Sen. Lindsey Graham (R-SC) slammed the Inflation Reduction Act Friday, claiming, “It is a bunch of B.S. that it will reduce inflation.”
Graham told Fox and Friends, “The CBO says next year, inflation will go up or down 0.1%. So, that’s not much of a reduction.”
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He argued the legislation would raise costs on the middle class instead.
“This bill has tax increases on imported oil,” he said. “The taxes in the bill will be passed on to consumers at the $75,000 or below level.”
President Joe Biden promised on the campaign trail not to raise taxes on the middle class, only on those who make more than $400,000.
“It’s about as accurate as saying the border’s secure and the Taliban didn’t know Zawahri was in Kabul,” Graham said. “This is a fraud. It’s a lie. It’s going to make every problem worse.”
“Manchin-Schumer will NOT lower inflation,” he later tweeted.
Manchin-Schumer will NOT lower inflation.
— Lindsey Graham (@LindseyGrahamSC) August 5, 2022
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As more Senate Democrats offered their support for the legislation, Biden called it a “critical step toward reducing inflation and the cost of living for America’s families.”
“It will make our tax system more fair by making corporations pay a minimum tax. It will not raise taxes on those making less than $400,000, and it will reduce the deficit. It also makes the largest investment in history in combating climate change and increasing energy security, creating jobs here in the US and saving people money on their energy costs,” Biden said of the act in a White House statement.
