UPDATED 8:27 AM PT – Friday, July 29, 2022
While Sen. Joe Manchin (D-W.Va.) is defending his “about-face” on the Inflation Reduction Act, Republicans are criticizing the bill. On Thursday, Sen. Kevin Cramer (R-N.D.) said it’s absurd to raise taxes on “job creators” during a recession.
The GOP lawmaker explained the 15 percent minimum tax on corporations changes the way they can expense and deduct, which will only increase inflation. Cramer added, the bill neglects the country’s real economic problems to address hypothetical ones.
“There’s like, what is it, 50 or 60 billion dollars for a green bank?” he asked. “Five billion dollars for urban trees? I mean, give me a break. We’ve got real serious problems in this country and they want to give money away for tree planting for crying out loud.”
I have tried to work across party lines when it makes sense, but this Democratic power grab through reconciliation will make every economic problem in America worse.
— Lindsey Graham (@LindseyGrahamSC) July 28, 2022
Also on Thursday, Sen. Lindsay Graham (R-S.C.) specifically asked the Congressional Budget Office to evaluate the impact of the Democrat’s spending package, which he calls an updated version of Build Back Better.