Manchin-Schumer "...is a complete fraud."
“Proposal’s effect on inflation is negligible at best”
WASHINGTON – Senate Budget Committee Ranking Member Lindsey Graham (R-South Carolina) called the Manchin-Schumer spending bill “a complete fraud” during an interview with Larry Kudlow on Fox Business Channel. Graham noted that the Congressional Budget Office this week found that the Inflation Reduction Act will have “negligible effect” on inflation this year and may actually cause inflation to rise in 2023.
GRAHAM: “This bill is a complete fraud. The Inflation Reduction Act when looked at by the Congressional Budget Office – the Gold Standard according to Joe Manchin – says in 2022 it will have negligible effect on inflation. And in 2023 – next year – it will go up or down by 0.1 percent. That doesn’t sound like to me that it is reducing inflation.”
GRAHAM: “Who in their right mind wants to tax and spend during a recession? Who wants to create policies during a recession to disincentivize investing in the private sector? Only liberals who worship at the altar of climate change.”
GRAHAM: “Joe Manchin has made a huge mistake here. There is a 16.4 cent per barrel tax on imported oil that’s tied to inflation. That tax was eliminated in 1995. It’s a Vampire Tax they are bringing back. It’s going to add costs to the pump. The Obamacare subsidies are not going to end in 3 years. If you score them over a 10-year period, it wipes out all the savings in this bill.
GRAHAM: “It is inflationary, and the reason I know it’s inflationary is because when you spend money at the government level and tax the private sector you get less growth and the taxes on corporations are passed down to individual people.”
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