Vice President Harris broke the tie, and the bill has cleared the Senate.
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I hope that in November voters remember which party worked to help all of us, and which one voted against that.
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Post 19 which you quoted
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Quote Originally Posted by BidenPresident View Post
Specifically, what provision in the bill does that?
Most Americans will feel tax pain from Dem inflation bill despite Biden's past promises: analysis
'Democrats are trying to sell the American people a bill of goods,' said Senate Finance Committee ranking member Mike Crapo
The vast majority of Americans will pay more in taxes as a result of Democrats' inflation bill despite President Biden's pledge not to raise taxes on those making under $400,000 per year.
The Inflation Reduction Act — unveiled Wednesday by Sen. Joe Manchin, D-W.Va., and endorsed by Biden — would increase tax revenue by $16.7 billion from Americans earning less than $200,000 a year, according to a nonpartisan analysis from the Joint Committee on Taxation (JCT) published Friday. Nearly every tax bracket would pay more in taxes with those making below $10,000 per year seeing the largest uptick, the analysis showed.
"The more this bill is analyzed by impartial experts, the more we can see Democrats are trying to sell the American people a bill of goods," Senate Finance Committee ranking member Mike Crapo, R-Idaho, said in a statement Saturday. "Nonpartisan analysts are confirming this bill raises taxes on the middle class and produces no meaningful deficit reduction when gimmicks are removed and the full cost is accounted for."
However, Biden has repeatedly pledged that Americans earning less than $400,000 per year would not experience any tax increase during his presidency. The president originally made the pledge during his 2020 campaign.
"This bill will not raise taxes on anyone making less than $400,000 a year," Biden remarked Thursday during a speech about the legislation. "And I promise — a promise I made during the campaign and one which that I ha- — that I’ve have kept."
In 2023, the year in which the legislation would increase tax revenue most, individuals making less than $10,000 per year would pay 3.1% more in taxes and those making between $20,000-30,000 per year would see a 1.1% tax increase, the JCT analysis showed. Tax revenue collected from those making $100,000 per year or less would increase by $5.8 billion in 2023 under the Inflation Reduction Act.
In addition, the share of tax revenue collected from all Americans making more than $200,000 per year would remain at the current percentage, according to the JCT. Taxpayers with an annual income of $200,000 or greater pay more than 57% of all federal income taxes.
The Inflation Reduction Act, though, boosts Internal Revenue Service enforcement, a provision that is expected to increase federal tax revenue by $124 billion. The bill also creates a minimum corporate tax rate of 15% which is expected to boost federal tax revenue by $313 billion.
"The proposed corporate alternative minimum tax is the largest revenue raising provision in the analysis," Thomas Barthold, the JCT's chief of staff, told FOX Business in an email.
It was not immediately clear how much each provision of the bill would lead to higher taxes. The JCT listed more than 20 of the legislation's provisions that it factored into its analysis.
"Democrats are clearly trying to pivot this as only a tax like on the wealthy," Mike Palicz, the federal affairs manager at Americans for Tax Reform, told FOX Business in an interview. "But you look at any of these taxes — take something like the [corporate minimum tax]. That's going to lower workers' wages, it's going to cost jobs."
"There's a $25 billion crude oil tax in this bill," he added. "That's something that's going to hit everyone. That's a regressive tax increase on poor people that raises their energy costs, raises the price of gasoline."
Transportation Secretary Pete Buttigieg previously said that a gasoline tax increase would violate Biden's pledge not to raise taxes on middle class Americans.
"This is Biden breaking his promise to the American people," Palicz said.
https://www.foxbusiness.com/politics...-past-promises
Those figures are from the JCT (Joint Committee on Taxation), a bi-partisan collection of congressmen, majority of them Democrat.
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Your post 22
With the fox link in it
No one else used this fox link here
Fox is trash
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Quote Originally Posted by BidenPresident View Post
Specifically, what provision in the bill does that?
Most Americans will feel tax pain from Dem inflation bill despite Biden's past promises: analysis
'Democrats are trying to sell the American people a bill of goods,' said Senate Finance Committee ranking member Mike Crapo
The vast majority of Americans will pay more in taxes as a result of Democrats' inflation bill despite President Biden's pledge not to raise taxes on those making under $400,000 per year.
The Inflation Reduction Act — unveiled Wednesday by Sen. Joe Manchin, D-W.Va., and endorsed by Biden — would increase tax revenue by $16.7 billion from Americans earning less than $200,000 a year, according to a nonpartisan analysis from the Joint Committee on Taxation (JCT) published Friday. Nearly every tax bracket would pay more in taxes with those making below $10,000 per year seeing the largest uptick, the analysis showed.
"The more this bill is analyzed by impartial experts, the more we can see Democrats are trying to sell the American people a bill of goods," Senate Finance Committee ranking member Mike Crapo, R-Idaho, said in a statement Saturday. "Nonpartisan analysts are confirming this bill raises taxes on the middle class and produces no meaningful deficit reduction when gimmicks are removed and the full cost is accounted for."
However, Biden has repeatedly pledged that Americans earning less than $400,000 per year would not experience any tax increase during his presidency. The president originally made the pledge during his 2020 campaign.
"This bill will not raise taxes on anyone making less than $400,000 a year," Biden remarked Thursday during a speech about the legislation. "And I promise — a promise I made during the campaign and one which that I ha- — that I’ve have kept."
In 2023, the year in which the legislation would increase tax revenue most, individuals making less than $10,000 per year would pay 3.1% more in taxes and those making between $20,000-30,000 per year would see a 1.1% tax increase, the JCT analysis showed. Tax revenue collected from those making $100,000 per year or less would increase by $5.8 billion in 2023 under the Inflation Reduction Act.
In addition, the share of tax revenue collected from all Americans making more than $200,000 per year would remain at the current percentage, according to the JCT. Taxpayers with an annual income of $200,000 or greater pay more than 57% of all federal income taxes.
The Inflation Reduction Act, though, boosts Internal Revenue Service enforcement, a provision that is expected to increase federal tax revenue by $124 billion. The bill also creates a minimum corporate tax rate of 15% which is expected to boost federal tax revenue by $313 billion.
"The proposed corporate alternative minimum tax is the largest revenue raising provision in the analysis," Thomas Barthold, the JCT's chief of staff, told FOX Business in an email.
It was not immediately clear how much each provision of the bill would lead to higher taxes. The JCT listed more than 20 of the legislation's provisions that it factored into its analysis.
"Democrats are clearly trying to pivot this as only a tax like on the wealthy," Mike Palicz, the federal affairs manager at Americans for Tax Reform, told FOX Business in an interview. "But you look at any of these taxes — take something like the [corporate minimum tax]. That's going to lower workers' wages, it's going to cost jobs."
"There's a $25 billion crude oil tax in this bill," he added. "That's something that's going to hit everyone. That's a regressive tax increase on poor people that raises their energy costs, raises the price of gasoline."
Transportation Secretary Pete Buttigieg previously said that a gasoline tax increase would violate Biden's pledge not to raise taxes on middle class Americans.
"This is Biden breaking his promise to the American people," Palicz said.
https://www.foxbusiness.com/politics...-past-promises
Those figures are from the JCT (Joint Committee on Taxation), a bi-partisan collection of congressmen, majority of them Democrat.
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Your post 22
With the fox link in it
No one else used this fox link here
Fox is trash
Get a real link
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We will have to non stop remind the voters they voted against it
In no time they will be touting it to their constituents as if the wrote sponsored and voted for it
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Try reading back for comprehension.
Gondwanaland
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Again, try fucking reading for basic comprehension you dumb fuck.
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https://dailycaller.com/author/thomasgcatenacci@gmail.com/
The author of that fox trash works for the right wing daily caller too
The author of that fox trash works for the right wing daily caller too
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Lower drug prices means slower inflation asshole
Exactly what you are screaming for
Lower prices IS deflation asshole
How much of this trillion is being spent on drug price controls?
I believe that the answer is $0.
The constant pushing to take over an ever larger portion of the GDP through government spending, as they lie about it all the way down the trail, is all about the pursuit of power.
The oligarchs run America now through their WOKE Revolution, which was created and indoctrinated through the failed universities, not the people.
The Constitution and democracy in America are now dead.
It was murder.
The oligarchs run America now through their WOKE Revolution, which was created and indoctrinated through the failed universities, not the people.
The Constitution and democracy in America are now dead.
It was murder.
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Link
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Baseless idiotic fucking blather you mouth pooper