Sen. Mike Braun, R-Ind., told Newsmax on Tuesday that the Democrat-sponsored Inflation Reduction Act of 2022, which serves as an extension of the Build Back Better Act, will have the “opposite” effect on the American economy than its name suggests.
Speaking on “Eric Bolling The Balance,” Braun says this bill “is in reaction, of course, with their bad agenda.”
“They call it an inflation-fighting bill; well, it’s just the opposite. It also raises taxes on manufacturers,” which, as Braun points out, is problematic considering the United States is entering a “recession.”
The bill includes several provisions dedicated to climate change. The senator adds that the inflation-fighting bill will have a “neutral” effect on revenue.
But according to the Tax Foundation, the “bill worsens inflation by constraining the productive capacity of the economy.”