08.07.22

Graham on Democrats Voting to Increase Taxes, Worsen Inflation

WASHINGTON – Senate Budget Committee Ranking Member Lindsey Graham (R-South Carolina) today made this statement after the Senate passed the so-called “Inflation Reduction Act” on a strict party line vote. Senator Graham voted no on the bill.  

“The Democrats are at it again. Another massive tax and spend bill that will be a disaster for a weak economy and make the lives of suffering Americans worse. So unnecessary.“

“I hope the American people realize that no matter how well-meaning my Democratic colleagues may be, they are turning the economy upside down and increasing taxes all in the name of climate change. They are failing to address a broken border and have become captive to liberal special interests.

“Those who claim to be moderate and conservative, when given the choice, sided with liberals. This will be a part of the 2022 elections and beyond.

“Using the same process that was employed in March of 2021, the Democrats along party lines have voted to impose a new gas tax on the American people at a time we can least afford it. They voted to create a new tax on American business that will be passed onto the consumer. Those making well-below $100,000 a year will feel the effect of this.

“According to CBO and Penn Wharton, this bill will not reduce inflation. According to CBO, it will disincentivize investment in factories and equipment because of tax policy changes.

“My Democratic colleagues who are assuring you this bill will help you are the same people who said that in 2021. The American Rescue Plan – a $1.9 trillion tax and spend proposal passed in 2021 – was disaster for the American people. At the time of its passage, inflation was 2.6 percent. It is now 9.1 percent. And it’s no accident that the American Rescue Plan caused this problem. 

“Republicans warned Democrats in 2021 that if you pass the massive tax and spend bill called the American Rescue Plan, you will not rescue America. You will create a recession.

“Unfortunately, we were right then and we are right now.

“Most disappointing were the bait and switch tactics of my Democratic colleagues, trying to appear to be for eliminating new gas taxes and easing burdens on the American people and securing the border, when in fact they were not.

“They had the opportunity to vote for real amendments that would abolish the new gas tax and that would extend Title 42 authority to protect our southern border. But when given that opportunity, they voted no.

“Shortly after voting no, they manufactured votes that they knew could not pass to appear to be supportive of the very same concepts.

“No matter how you feel about policy differences, we should all agree that the American people deserve an honest accounting of where people truly stand. I believe this bait and switch tactic employed several times will come back to haunt those involved.

“In November the American people will fire the Democratic majority who have created the chaos in their lives.

“Every problem we had before the Inflation Reduction Act was introduced is only going to get worse because of the policies in this bill.”

 

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