Reconciliation Process
The INVEST Act and the Senate’s bipartisan deal will lay the groundwork for a future reconciliation bill. Reconciliation is a process that allows legislation to pass without it being subject to the filibuster rule. In the past, Congress has been able to do one reconciliation bill per year. Now, rules have been reinterpreted to allow three reconciliation bills this year.

VP Harris finally gets to cast her deciding vote in the 50-50 Senate

from The Gray Area:
8/6/22: updated 8/13/22

VP Kamala Harris finally gets to cast her deciding vote in the 50-50 Senate and it is on a scaled down version of the Biden Build Back Better agenda laughingly named the 'Inflation Reduction Act'. The Senate was scheduled to begin their August recess yesterday, but stayed in session throughout the weekend so Democrats can push forward on the monstrous bill with over $700 billion in new taxes and over $400 billion in spending on Left-wing priorities. the Senate passed this misnamed spending bill, it will now go to the House for a vote—likely by this Friday. If you believe that climate change is an existential crisis, you probably believe this bill is too little. If you believe that climate change is a hoax, you believe this is simply wild Democrat spending. Well, you are both wrong. It is not a crisis and it is not a hoax. But, this bill is a waste of money because it will do absolutely nothing to limit climate change in any discernible way. As with other climate change spending, it is simply left wing virtue signalling and enriching political allies on the subject. After Congress fueled inflation with record spending, Democrats are now trying to message that even more spending will now decrease inflation.  No one believes that B.S. about having any positive impact on inflation through more spending, just the opposite I'm afraid.

Despite the current recession, Democrats included more inflationary spending:

Elizabeth MacDonough, the Senate parliamentarian, and her staff labored into the early hours of Saturday morning to determine whether the bill’s components violated those rules, which require that each provision have a direct effect on federal spending or revenue. Early Saturday, she instructed Democrats to trim the scope of a proposal intended to keep the increase in drug prices from outpacing inflation, saying that a proposed rebate could apply only to drugs purchased by Medicare, not by private insurers. Democrats Trade One Bad Tax Increase for Another Their stock buyback levy will hurt shareholders far more than it will CEOs. Here are THREE simple reasons to oppose this bill—it will:

  1. Increase inflation and make stagflation worse
  2. Raise taxes during a recession on ALL Americans
  3. Increase the cost of energy
Breaking down the "Inflation Reduction Act"
  • Drive Up Energy Costs
Everyone knows the price of gas and energy has gone up dramatically since Biden took office. His administration has pursued an environmentalist ideology that is choking the oil and gas industry and driving up the cost of energy. Now, the attacks have expanded as this bill seeks to “reduce carbon emissions by roughly 40 percent by 2030.” It is estimated that such restrictions on carbon emissions will cause significant economic turmoil.
  • More IRS Audits
This bill would give $80 billion of additional funding to the IRS specifically for the purpose of boosting their ability to collect taxes. Most individual audit examinations target those who make less than $50,000. Historically, these are the people who have disproportionately faced recommended tax adjustments. To make matters worse, Democratic Presidents have a history of weaponizing federal agencies against conservatives… Obama used the IRS to target the Tea Party in 2013 Biden’s DOJ labeled parents who spoke out against CRT as “domestic terrorists” within the past year Biden’s DOJ has recently sued Idaho for implementing Pro-Life laws. An increase in IRS manpower and resources should worry every conservative individual and organization
  • Raise Taxes in a Recession
Biden promised over and over again that he would never raise taxes on anyone making less than $400,000. With this bill, Biden is breaking his promise. This bill would disproportionately tax individuals making less than $200,000. In the middle of a recession, taking money away from those struggling the most is simply cruel.
  • More Red Tape Equals Greater Costs The increasing cost of red-tape compliance is burden on businesses large and small. And the Securities and Exchange commission is drafting new regulations at three times the average pace.
Here's one example. The SEC proposed a rule that would require public companies to speculate in their financial disclosures about the potential impact of future “climate-related events” on their performance and on the performance of their entire value chain. That means they would have to estimate the cost of climate change on every supplier, contractor, etc. Even the SEC admits this regulation could nearly triple the cost of being a publicly traded company. Over regulation is never a good idea, but during a recession and record inflation, it's simply ludicrous.

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