Inflation Reduction Act Passes Senate
This past weekend, Democrats in the senate passed the Inflation Reduction Act. We must intercede and pray for our economy.
From The Epoch Times. Sen. Ted Cruz (R-Tex.) has criticized Democrats for pushing their so-called Inflation Reduction Act, which he warns is a “terrible bill.”
The bill will double the size of the Internal Revenue Service (IRS). But IRS agents are not designed to go after “billionaires and big corporations,” Cruz said in an interview with Fox News. “They’re designed to come after small businesses and working families across this country … The Democrats are making the IRS bigger than the Pentagon, plus the Department of State, plus the FBI, plus the Border Patrol combined … This is a massive power grab.”
Senate Democrats passed the Inflation Reduction Act on Aug. 7 with a 51 to 50 vote, with Democrat Vice President Kamala Harris casting her tie-breaking vote in favor of her party. The estimated $740 billion package now heads to the House for vote.
Over $300 billion will go to climate change and energy, which is the largest clean energy investment made by a federal government in American history. It also includes tax credits for electric vehicles. The bill institutes a 15 percent minimum tax for corporations making over $1 billion a year….
In an Aug. 8 Twitter post, Sen. Masha Blackburn (R-Tenn.) called the $80 billion set aside to double the number of IRS agents as practically giving “every American a personalized tax auditor.”
Instead of increasing taxes, the government should be focusing on reducing them, she insisted. The Democrats’ “socialist agenda” will make the life of Tennesseans “more difficult and expensive….”
How are you praying about this bill? Share your thoughts and prayers below.
(Excerpt from The Epoch Times. Photo Credit: Canva)
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