Republicans warn that the country will raise hell if Democrats push the healthcare, tax, and climate spending bill despite several economists warning that it would worsen the inflation in the US.
On Sunday, Republicans took aim at the massive spending bill the Democrats claim will put money back into Americans’ pockets.
In a statement released by Senate Republican leader Mitch McConnell (R-KY), he claimed that the bill “will kill American jobs and hammer our manufacturing sector” and “have no meaningful impact on global temperatures whatsoever.”
Sen. Lindsey Graham (R-S.C.) also predicts the vote-a-rama will be like “hell” and slammed Sen. Joe Manchin (D-W.Va.) and Sen. Kyrsten Sinema (D-Ariz) for supporting the hefty bill.
“They deserve this. As much as I admire Joe Manchin and Sinema for standing up to the radical left at times, they’re empowering legislation that will make the average person’s life more difficult,” Graham said.
Former President Donald Trump spoke up against Manchin, promising that he would go to West Virginia to campaign against Manchin if the Inflation Reduction Act passes.
According to Schumer, the bill would be an immediate solution to inflation.
“The Inflation Reduction Act will lower inflation, lower the costs of prescription drugs, close loopholes long exploited by big businesses who pay no or little taxes,” Schumer stated on Thursday on the Senate floor.
Not only that, US President Joe Biden also urged the Congress on Thursday to pass the bill.
“My message to Congress is this: Listen to the American people,” he said.
“This is the strongest bill you can pass to lower inflation, continue to cut the deficit, reduce health care costs, tackle a climate crisis and promote America’s energy security and reduce the burdens facing working-class and middle-class families,” Biden continued.
However, several economists also stepped in and blasted the decision, arguing that the Inflation Reduction Act will worsen the currently high inflation and will burden the U.S. economy.
In the letter sent to the House and Senate leadership, economic experts claimed that the $433 billion in proposed government spending, “would create immediate inflationary pressures by boosting demand, while the supply-side tax hikes would constrain supply by discouraging investment and draining the private sector of much-needed resources.”
They also added that the bill’s prescription drug provisions “would impose price controls that threaten healthcare innovation, creating a human health toll that would add to the financial woes that Americans are already experiencing.”
