Democrats' Reckless Taxing-And-Spending Spree Has Hurt Families And Helped China

 

Leader McConnell: ‘This Isn’t An ‘Inflation Reduction Act.’ Not Even Close. It’s Just A Catalog Of Tax Hikes And Green Boondoggles That Democrats Have Wanted For Years, With A False New Label Slapped On The Front’

SENATE REPUBLICAN LEADER MITCH McCONNELL (R-KY): “Yesterday, Senate Democrats celebrated the approaching anniversary of their reckless taxing and spending spree. As the Democratic Leader put it, ‘this legislation is paying huge dividends.’ Well, he’s right about that much. But the windfalls from this deluge of liberal spending are headed to all the wrong places. Last year, Mr. President, Senate Republicans warned anyone who would listen about the dangers of our colleagues’ plan. We explained how green slush funds dreamed up by left-wing activists wouldn’t bring on the American industrial renaissance Democrats were claiming it would. How half-baked climate schemes that relied on Chinese components and raw materials would give American workers and job creators the short end of the stick.” (Sen. McConnell, Remarks, 7/27/2023)

 

  • LEADER McCONNELL: “Well, it’s now crystal clear: Either Democrats didn’t know what their own bill was actually designed to do… Or they knew exactly what it would do, and decided to sell out American workers and job creators. Here’s the inconvenient – and dangerous – truth. Of the $110 billion this scheme has spent on green projects so far, foreign companies are involved in over 60% of it. In fact, foreign entities have their hand in fifteen of the twenty biggest projects receiving money from the bill. And a full $8 billion is benefiting companies either based in – or with significant ties to – the People’s Republic of China. Over a hundred billion dollars in left-wing spending, and the majority of has some tie to foreign countries, including America’s biggest strategic adversary. Mr. President, our Democratic colleagues sold their reckless spending spree as a ‘Made in America’ investment. But the only thing it appears to be making in America is a mess.” (Sen. McConnell, Remarks, 7/27/2023)

 

LEADER McCONNELL: “This isn’t an ‘Inflation Reduction Act.’ Not even close. It’s just a catalog of tax hikes and green boondoggles that Democrats have wanted for years, with a false new label slapped on the front. The ‘Inflation Reduction Act’ won’t reduce inflation any more than the ‘American Rescue Plan’ actually rescued America. The only thing the so-called ‘Rescue Plan’ ‘rescued’ the country from was stable prices and a functioning economy. And the only things their ‘Inflation Reduction Plan’ will reduce is American jobs, wages, after-tax incomes, energy affordability, and new life-saving medicines. Wow, what an accomplishment. Democrats say they need to pass another massive economic failure because their first huge economic failure has made it necessary. The American people see things quite differently.” (Sen. McConnell, Remarks, 8/02/2022)

 

What Americans Need To Know About Democrats’ Massive Federal Tax-And Spend Law, Misleadingly Dubbed The ‘Inflation Reduction Act’

 

Democrats ‘Sold Their Reckless Spending Spree As A ‘Made In America’ Investment. But The Only Thing It Appears To Be Making In America Is A Mess’

 

Americans Continue To Pay The Price For Two Years Of Democrats’ Excessive Spending And Tax Hikes

 

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