TPA Urges Congress to Oppose Inflation Reduction Act

For Immediate Release                                                                             Contact: Abigail Graham: (202) 417-7235

August 6, 2022   

Washington, D.C. – The Taxpayers Protection Alliance (TPA) urges members of Congress to oppose the “Inflation Reduction Act.” This continued push for reckless government spending and taxation will hurt taxpayers and consumers during a time of increased economic uncertainty and pain.

TPA President, David Williams, offered the following statement:

“This is a disgraceful moment in the Senate and the country. With the economy in a tailspin, the Senate is poised to pass a bill that will increase spending and raise taxes on all income levels. Instead of addressing the rapidly rising cost of living for basic necessities of millions of Americans, this bill is a tax-and-spend nightmare that will only exacerbate current economic issues.

“Inflation is at 9.1 percent and households can’t afford to fill their gas tanks or refrigerators, while this legislation provides hundreds of billions of taxpayer dollars to electric vehicle owners and corporate welfare to prop up wind and solar power while Main Street America continues to suffer.”

“This is an expensive wish list of progressive spending with tax increases that violate the administration’s promise not to raise taxes on anyone making under $400,000 per year. The bill would increase the federal tax burden for most Americans making more than $30,000 per year.

“This proposal would send the IRS after taxpayers in pursuit of an additional $124 billion in revenue. The agency has already admitted to targeting lower income taxpayers without the monetary resources to fight back. Nearly half of all audits conducted in 2021 were directed at America’s poorest taxpayers and this revenue raising mission would only further that practice.

“Also of concern is the provision for a $15 million study on a ‘Direct E-File’ tax return system. Polling shows that 75 percent of Americans do not want to expand the authority of the IRS. This is yet another example of Senate Democrats being out of touch with the real priorities of Americans.

“Unfortunately, the supposed Medicare ‘negotiations’ involve price controls, not negotiation. Seniors’ medical care would be jeopardized by price controls to pay for progressive priorities. A reduction in drug development would delay and otherwise hamper lifesaving innovations. It’s clear the D.C. heat has affected the sensibilities of Senate Democrats. Time for them to go home and cool off and give taxpayers and consumers a much-needed break from Congress’ fiscal irresponsibility.

“Instead of passing this Bill, Senators should be at home holding town hall meetings to find out how to alleviate this economic pain, rather than inflicting more of it.”

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 Taxpayers Protection Alliance (TPA) is a non-profit, non-partisan organization dedicated to educating the public through the research, analysis and dissemination of information on the government’s effects on the economy.