Government and Politics
August 12, 2022
McCaul to Vote No on Reconciliation
Washington, D.C. – Representative Michael McCaul (TX-10) issued the following statement in advance of tomorrow’s vote in the House of Representatives on the Inflation Reduction Act of 2022.
“The so-called Inflation Reduction Act is, in reality, the Inflation Expansion Act. It is nothing more than a partisan spending spree by the Democrats in Congress that will further burden American families during a time of record inflation. It adds 87,000 new IRS agents to harass and audit taxpayers and small businesses. It dramatically increases taxes on energy production and establishes a $369 billion slush fund for Green New Deal initiatives. It also includes a stock buyback tax that damages Americans’ retirement security for anyone with a 401K, IRA or a pension plan. This bill is beyond reckless and demonstrates that President Biden and Democrats in Congress have no regard for the financial wellbeing of the American taxpayer. I’m a resounding NO on this bill.”