The Wall Street Journal editorial board published an op-ed Monday that criticized the 'Inflation Reduction Act' which was agreed to by Sen. Joe Manchin (D-WV) last week.
A nonpartisan analysis says Sen. Joe Manchin's reconciliation bill will raise taxes on the middle class, but the senator said he'd "agree to disagree" as he argued it will not.
The board said the legislation could help ease inflation but at the cost of the economy going into a recession. the $327 billion in new taxes could soften inflation if Sen. Joe Manchin, D-W.Va., is met by reporters outside the hearing room where he chairs the Senate Committee on Energy and Natural Resources, at the Capitol in Washington, July 21, 2022.
U.S. Senator Joe Manchin talks with Sen. Tim Scott in the Senate subway at the U.S. Capitol in Washington, U.S., December 15, 2021."This gives the lie to Democratic claims that no one earning under $400,000 will pay more taxes under the bill, a promise Mr. Biden also made in his campaign. The reality is that the Schumer-Manchin bill is a tax increase on nearly every American," it continued.
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