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(RepublicanWire.org) – Vice President Kamala Harris cast a tie-breaking vote Saturday to advance President Joe Biden’s massive spending, tax and climate legislation in the Senate.

The 51-50 party line vote allowed senators to begin debate on the legislation, which includes $400 billion in spending and $700 billion in taxes and revenue increases.

Senator Bernie Sanders slammed the Inflation Reduction Act (IRA) negotiated by Senate Majority Leader Chuck Schumer and Senator Joe Manchin, in part because of a recent nonpartisan report that revealed the bill would do very little to actually reduce inflation.

“I want to take a moment to say a few words about the so-called Inflation Reduction Act that we are debating this evening,” Sanders said on Saturday. “I say so-called because according to the [Congressional Budget Office] and other economic organizations that have studied this bill, it will in fact have a minimal impact on inflation.”

Senate Majority Leader Chuck Schumer hailed the legislation as a “groundbreaking bill for the American people, for families struggling to pay the bills, for seniors struggling to pay for medication, for kids struggling with asthma.”

A letter sent to House and Senate leadership from 230 economists argues that the Inflation Reduction Act is expected to contribute to skyrocketing inflation and will burden the U.S. economy, contrary to President Biden and Democrats’ claims.

That in fact, passage of the bill will only add fuel to the fire making already 40-year high inflation even worse.

The 755-page bill is expected to win final approval Sunday evening.

(RepublicanWire.org) – Fox News White House correspondent Peter Doocy pressed White House press secretary Karine Jean-Pierre about the raise in taxes in the Inflation Reduction Act of 2022.

Doocy asked Monday if President Joe Biden will rescind his support for the Inflation Reduction Act, a budget reconciliation bill proposed by Senate Majority Leader Chuck Schumer and Democratic West Virginia Sen. Joe Manchin, given that Biden promised not to raise taxes on anyone making $400,000 a year.

The press secretary confirmed the president’s continuing support for the bill.

“He promised it wasn’t going to raise taxes on anybody making less than $400,000 a year, but the Joint Committee on Taxation (JCT) says that is not true,” Doocy said.

“Well, that is incorrect,” Jean-Pierre said.

“So, the Joint Committee on Taxation, which you guys heralded as an effective body when you were selling the infrastructure package, is not to be trusted here?” he said.

The press secretary said the JCT report is “incomplete” because it does not include the benefits the legislation would provide to Americans. She added that several experts disputed the report for excluding the benefits it would have on clean energy, lowering the deficit and prescription drugs.

The bill, if passed, would mandate a 15% minimum tax on corporations making $1 billion or more in profits, Jean-Pierre continued.

(RepublicanWire.org) – Senator Joe Manchin surprised Washington DC elites and the mainstream chattering class when he announced his support for the Democrats’ green new deal funded by nearly $800 billion in new tax hikes.

The Green New Deal will crush the coal and energy sector in his home state of West Virginia. But it will make the windmill manufacturers in China rich.

The entire spending package will be funded by new taxes on workers and producers while inflation remains at 40-year highs.

Of course, the democrats call their plan the “Inflation Reduction Act of 2022.”

Sen. Joe Manchin on Wednesday announced that he has reached a deal with Senate Democratic leader Chuck Schumer on a domestic spending bill including energy programs and tax policy changes.

Manchin, D-W.Va., and Schumer, D-N.Y., said in a joint statement that the measure, known as the Inflation Reduction Act of 2022, will receive a vote on the Senate floor next week.

“The Inflation Reduction Act of 2022 will make a historic down payment on deficit reduction to fight inflation, invest in domestic energy production and manufacturing and reduce carbon emissions by roughly 40% by 2030,” the pair said.

The bill would raise $313 billion through a 15% corporate minimum tax, $288 billion through prescription drug pricing reforms, $124 billion through IRS enforcement of reformed tax code and $14 billion by closing the carried interest loophole.

Here is the one-page agreement between Joe Manchin and Chuck Schumer.

Joint Statement From Leader Schumer And Senator Manchin Announcing Agreement To Add The Inflation Reduction Act Of 2022 To The FY2022 Budget Reconciliation Bill And Vote In Senate Next Week
July 27, 2022

Washington, D.C. – Senate Majority Leader Chuck Schumer (D-NY) and Senator Joe Manchin (D-WV) issued the following joint statement today announcing an agreement to add the Inflation Reduction Act of 2022 to the FY2022 Budget Reconciliation bill and vote in the Senate next week:

“Today, we are pleased to announce an agreement to add the Inflation Reduction Act of 2022 to the FY2022 Budget Reconciliation bill. After many months of negotiations, we have finalized legislative text that will invest approximately $300 billion in Deficit Reduction and $369.75 billion in Energy Security and Climate Change programs over the next ten years. The investments will be fully paid for by closing tax loopholes on wealthy individuals and corporations. In addition, the expanded Affordable Care Act program will be extended for three years, through 2025. The revised legislative text will be submitted to the Parliamentarian for review this evening and the full Senate will consider it next week.”

“The Inflation Reduction Act of 2022 will make a historic down payment on deficit reduction to fight inflation, invest in domestic energy production and manufacturing, and reduce carbon emissions by roughly 40 percent by 2030. The bill will finally allow Medicare to negotiate for prescription drugs and lower health care costs for millions of Americans. Additionally, we have reached agreement with President Biden and Speaker Pelosi to pass comprehensive permitting reform legislation before the end of this fiscal year. We urge every member of the U.S. Senate to support this important legislation.”