Senate Democrats are considering funding their costly climate agenda by socking corporations with a $313 billion tax increase.

Talk about bad timing — hitting businesses with a big tax hike just as the economy is sliding into recession. Lawmakers should be encouraging companies to hire and invest, not raining more taxes on them. Senate Majority Leader Chuck Schumer (D-NY) and pivotal Sen. Joe Manchin (D-WV) are calling their bill the Inflation Reduction Act of 2022. But the legislation would increase inflation by shrinking the economy’s supply side and intensifying the problem of too much money chasing too few goods.