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Sen. Joe Manchin, DW. Va., chose to support President Biden’s green energy agenda in the Senate last week. On the Big Sunday Show, panelists highlighted how the legislation would increase inflation and taxes despite Manchin’s assurances to the contrary.
Citing the Joint Committee on Taxation Analysis, co-host Anita Vogel said Manchin was wrong.
“The bipartisan group says taxes would rise next year for people earning less than $200,000. The average tax rate for nearly all income brackets would rise, and within a decade those earning less than $400,000 would bear up to two-thirds of the tax burden thanks to new green energy credits introduced to help the wealthy,” she said.
“They can call it the ‘Cut Inflation Act’ all they want,” replied co-host Charles Hurt. “It’s not going to reduce inflation, it’s going to increase inflation.”
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“There is no free lunch, the money comes from somewhere. Even if you print it, the money comes from somewhere and American workers are going to pay the price,” he continued. .
Vogel cited the Wharton budget model from the University of Pennsylvania. “We estimate that the Inflation Reduction Act will produce a very small increase in inflation in the early years, up to 0.05% in 2024,” the report said.
Rachel Campos-Duffy called the legislation “such an insult to the American people” and “a climate bill that has nothing to do with inflation.”
“It’s going to raise taxes, it’s going to exacerbate inflation,” she continued.
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She accused Manchin of “lying” to her constituents on the issue. Campos-Duffy added that the people of West Virginia “don’t like Joe Biden, miss Trump, definitely miss Trump gas prices, they miss the Trump economy, they miss Trump foreign policy where every three months we we are not facing a nuclear disaster.
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The United States is in recession after GDP posted negative growth for the second consecutive quarter. At the same time, inflation is at its highest level in 40 years, with soaring prices for meat, gas, energy and rents.