The left’s bankrupt bill will bankrupt you
Published 4:04 pm Tuesday, August 9, 2022
The left’s legislative strategy is simple: give the bill a positive name and hope people don’t find out what’s actually in it. In 2010, President Obama’s Affordable Care Act gave hope of lower medical costs but resulted in higher healthcare prices for everyone. Last year, the For the People Act invoked imagery from the Gettysburg Address but included policies that posed a danger to democracy. The Inflation Reduction Act of 2022 — the latest “Build Back Better” rebrand and the subject of the Senate’s marathon voting session this past weekend — follows the same pattern. Democrats think they can get away with yet another bait and switch because they assume Americans either aren’t smart enough or don’t care enough to see what’s going on. They’re wrong on both accounts.
In Tennessee, folks are frustrated with President Biden for willingly breaking his campaign promises. While he repeatedly stated he wouldn’t raise taxes on Americans making less than $400,000 a year, this month’s “Build Back Broke” rehash makes struggling households foot the bill. More than half of the bill’s tax revenue will come from families earning under $400,000, and middle income households can expect billions in new tax increases.
Tennesseans already know that the Democrats’ spending habit is bad news for their budgets, and economic analysts are quick to agree. The San Francisco Federal Reserve and Morgan Stanley blamed Biden for causing 41-year high inflation, and economists warn that persistent spending could put even more pressure on the economy. Democrats know all this, but in Congress they are fighting to make a bad problem worse. On top of spending-induced inflation, our nation is facing a critical supply chain crisis. Build Back Broke will levy new tax hikes on already struggling American businesses. This will in turn push supply chains past their breaking point and force consumers to pay more money for fewer goods.
With all but guaranteed economic carnage, why is the left charging ahead with their plan? Democrats in the White House and Congress know it’s their last chance to pass the Green New Deal. With a turbulent vote in November looming, the left is scrambling to get every item on their “green” wishlist signed into law, including an 8 billion dollar tax on natural gas. This tax would send energy bills skyrocketing and could destroy 100,000 jobs. In total, this bill throws away nearly $370 billion just to prop up the Democrats’ “green” agenda.
The left has proven they are determined to make their green agenda a reality — no matter the cost to our freedom and the American taxpayer. Unfortunately for Democrats, Tennesseans know better than to buy into their scheme. On Capitol Hill, I’ve followed the example of the Volunteer State’s responsible state and local leaders who have kept communities thriving during the left’s economic disaster. That’s why I voted against this radical spending and worked to stop sprees like it in their tracks.
The left’s legislative strategy underestimates the American people in order to conceal their radical agenda. While they may have been able to force their Build Back Broke bill through the Senate, Tennesseans know the truth: Democrats are intentionally bankrupting America.
(Marsha Blackburn represents Tennessee in the U.S. Senate)