Moderate Democrats’ should spike the Inflation Reduction Act and stand up for our small businesses
The misnamed Inflation Reduction Act, which Senate Democrats passed Sunday, would only fuel this inflationary fire. It would spend $433 billion on Democrats’ climate and healthcare projects, including extending expanded ObamaCare subsidies that will inflate health care premiums. It would also increase taxes on businesses, including small businesses, by more than $500 billion. These new costs would make it harder for them to expand and increase supply to bring down prices.
However, prospects are grim. Every Congressional Democrat will likely go on record voting to raise taxes on small businesses and middle-class Americans during this time of recession and historic inflation. Voters will remember this betrayal on Election Day.