Washington, DC (August 12, 2022) – Today, the U.S. House passed the Inflation Reduction Act. President Biden will sign the bill into law.
“Congressional Democrats have sold out small businesses and ordinary Americans in partisan legislation that will deepen the recession and worsen inflation. The bill significantly raises taxes on job creators, including small businesses, making it more difficult for them to overcome stagflation and bring the country back to its pre-pandemic peak. The legislation increases spending at a time when inflation is already out of control, transfers private funds to the unproductive green energy complex, adds a football stadium worth of new IRS agents to overwhelm small businesses with audits, doubles down on failing Obamacare exchanges, and threatens the innovative prescription drug supply chain. Democrats have put left-wing interests above American job creators and workers. Voters will remember this bad policy on Election Day. Small businesses won’t let them forget.”