Congresswoman Tenney’s Statement on Democrats’ Misguided Inflation and Recession Act

Washington, DC – Congresswoman Claudia Tenney (NY-22) today released the following statement regarding the Democrats’ misguided and disastrous Inflation and Recession Act.

“The worst impulse of career politicians in Washington is to throw money at a problem without having any idea as to how to fix it. Last year, the Democrats rushed through a $1.9 trillion boondoggle spending bill, one of the largest in U.S. history, without any Republican support or input. Earlier this year, the nonpartisan Congressional Budget Office determined that this bill contributed to the record-high inflation Americans are experiencing now. Unfortunately, the Democrats, driven by far-left socialist authoritarians, have not learned their lesson.

“The Democrats’ solution to the nightmare we are suffering under today, which was caused by out-of-control government spending and a war on reliable energy production, is even more inflationary spending and increased barriers to affordable American energy. With energy prices already at record highs, this bill will raise taxes on American energy production by $12 billion and will harm access to reliable energy—a necessity for growth, prosperity, and to emerge from today’s stagflation.

“As Americans are already struggling to make ends meet, this misguided bill will raise taxes on earners making less than $400,000 by $16 billion, breaking yet another one of Biden’s promises. With small businesses pinching every penny just to keep their doors open, this bill will raise taxes by billions of dollars on nearly five million of America’s small businesses, harming job creation and productivity. Small businesses are the lifeblood of our communities across America, especially in upstate New York, where entrepreneurs, sole proprietors, and family farms dominate the landscape.

“At a time when Americans are rightly worried about the weaponization of the federal government against a former President, this bill will hire 87,000 new IRS agents to target 710,000 Americans making less than $75,000 per year. This is not ‘progress.’ This new politically charged Democrat “militia,” which will make the IRS roughly the size of the US Marine Corps, will not only be armed to intimidate and undermine the rights of already beleaguered taxpayers, but it will also exacerbate the economic disaster that Biden and the Democrats have thrust upon American citizens with their extreme tax and spend policies.

“When the House votes later today, I’ll be voting ‘NO,’ because there is not an option to vote ‘HELL NO.’”

Some of the other worst provisions in the Democrats’ Inflation and Recession Act:

• Reduces Medicare spending by over $200 billion to pay for the Green New Deal;
• Gives $80 billion to the IRS, allowing them to hire 87,000 new agents;
• Destroys retirement security by instituting a Stock Buybacks Tax that will harm seniors and other savers who invest in a 401(k) the most;
• Institutes a drug pricing scheme that will crush American innovation, leading to the development of as many as 342 FEWER new drugs and a loss in life 10x greater than that from COVID-19 in the U.S.;
• Budgetary gimmicks to hide the true $248 billion cost of permanently extending Obamacare subsidies.

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