Wilson, Duncan Reject Inflation Reduction Act
TL/DR –
The Inflation Reduction Act was passed in the US without any support from the Congressional delegation of Aiken County, with US Rep. Joe Wilson among the 207 Republicans voting against it. The bill includes measures to fight climate change and extend the Affordable Care Act, enforce greater tax regulation, introduce a 15% minimum corporate tax, reform prescription drug pricing, and eliminate the carried interest loophole. However, critics argue it will exacerbate the financial strain on Americans, citing concerns over increased government spending, reliance on China, raised taxes on individuals and small businesses, and a potential hike in fuel costs.
US Inflation Reduction Act Passed Without Aiken County Congress Support
The US Inflation Reduction Act passed absent support from Aiken County’s Congressional delegation, including U.S. Rep. Joe Wilson (R-S.C.). Wilson was among 207 Republicans voting against the bill.
The Act encompasses $369 billion investment to combat climate change,climate change $64 billion to extend the expanded Affordable Care Act for three more years. It also proposes a 15% corporate minimum tax, prescription drug pricing reform, and elimination of the carried interest loophole.
Wilson, expressing his views on Twitter, dubbed the bill the “Inflation Expansion Act” and criticized it as detrimental to American families. “We are already living with record inflation & high prices on daily items, now this bill will spend and waste $billions more,” he tweeted.
U.S. Rep. Jeff Duncan (R-S.C.), also voted against the Act. Calling the bill un-American, Duncan voiced concerns about its implications, including doubling of the IRS Army, raising taxes on Americans and small businesses, and allocating $740 billion toward green energy subsidies and tax credits.
Duncan believes that instead of addressing inflation, the bill will augment Americans’ financial burden by expanding government spending. He says, “In reality, this legislation should be called the ‘Inflation Acceleration Act’ because it will drive us deeper into a recession.”
He also criticized the move to double the size of the IRS and hire 87,000 IRS agents at the expense of hiring school security officers or border control agents. U.S. Reps. Nancy Mace, William Timmons, Ralph Norman, and Tom Rice, all South Carolina Republicans, also voted against the bill.
House Majority Whip Rep. Jim Clyburn (D-S.C.), however, voted in favor of the bill. The bill, having been approved by the Senate on a 51-50 party line vote, with Sens. Lindsey Graham and Tim Scott voting against, is now headed to President Joe Biden who is expected to sign it into law.
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