07.29.22

Graham to Manchin: “It’s Never Too Late to Do the Right Thing”

Penn Wharton Budget Model Finds Dems’ Bill Won’t Help Inflation

WASHINGTON – Senate Budget Committee Ranking Member Lindsey Graham (R-South Carolina) today made this statement on analysis from the University of Pennsylvania’s Wharton School of Business Budget Model on the effect the Democrats’ Reckless Tax and Spend bill would have on inflation. 

“Joe Manchin used to believe in the Penn Wharton Budget Model regarding economic projections and analysis. As the Wharton School indicated in their most recent analysis, the so-called ‘Inflation Reduction Act’ would not help inflation. In fact, they found the bill would cause inflation to rise until 2024.

“To be honest with you, a 3rd grader could figure out that raising taxes by billions and increasing spending by billions when in a recession is not going to help inflation. And that price-fixing is anti-competitive.

“I hope that Senator Manchin will abandon this tax increase on American businesses and families, and price-fixing for pharmaceuticals that will destroy research and development of the drugs for tomorrow.

“It’s never too late to do the right thing.”

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