Twenty-two Republican governors criticized the Democrats’ attempt at a reconciliation spending bill as “another reckless taxation and overspending” after Senator Joe Manchin reached an agreement with his leadership.
“The solution Democrats have offered to high inflation 40 years ago is to pass yet another reckless tax and spending of up to $740 billion, affecting Americans in every tax bracket,” advertiser The group of 22 Republican governors, led by South Carolina Governor Henry McMaster and Georgia Governor Brian Kemp.
“While Democrats deny recession, they want to raise taxes on businesses and manufacturers, which will drive up costs for consumers, exacerbate inflation, and exacerbate shortages,” the group continued.
The federal government reported last week that gross domestic product contracted by 0.9 percent in the second quarter of 2022, indicating the economy has entered a recession.
In fact, mortgage debt rose 1.9 percent in the fourth quarter as the housing market continued to rally after emerging from the pandemic, and the consumer price index rose 8.6 percent in the quarter from a year earlier — the largest increase since the fourth quarter of 1981. The group explained:
With prices soaring, the last thing Americans need is for Democrats to punish energy producers, which will ultimately hurt working families struggling to pay for gas, goods, food and utilities. Our citizens cannot afford Joe Biden’s broken promises about Democrats’ tax and inflationary spending that will only exacerbate the economic crisis they have created.
The other Republican governors who signed their names to the statement were: Kay Ivey of Alabama, Doug Ducey of Arizona, Asa Hutchinson of Arkansas, Ron DeSantis of Florida, Brad Little of Florida, Eric Holcombe of Iowa, and Kim Reynolds of Iowa. , Tate Reeves of Mississippi, Mike Parson of Missouri, Greg Gianforte of Montana, Pete Ricketts of Nebraska, Chris Sonuno of New Hampshire, Doug Burgum of North Dakota, Kevin Stitt of Oklahoma, Kristi Noem of Tennessee, Bill Lee of Texas, Greg Abbott of Utah, Spencer Mark Cox of Virginia, and Glenn Young Gord of Utah, Wyoming.
The Inflation Cuts Act, the spending bill Democrats are now trying to pass, has been found by the Congressional Budget Office to cut the deficit years from now, having raised it in four of the next five years.
John Carney of Breitbart News wrote on Wednesday:
The Inflation Cut Act, which nonpartisan analysts say will not reduce inflation, will cut the budget deficit by $101.5 billion between this year and 2031, Congressional Budget Office He said At an estimate on Wednesday.
But between this year and 2027, the budget deficit will grow by $24.6 billion. The nonpartisan Budget Analysis Agency sees the deficit going down next year as new tax provisions start and then rising each year through 2028.
This shift is due to expectations of when changes in drug prices will take effect. The cost of the ten-year was also lowered by ending some spending provisions, something Republican lawmakers have attacked as a gimmick to hide the true cost of the bill.
Representative Jason Smith (R-Mo), the ranking member of the House Budget Committee, also released a fact sheet saying the bill would add more fuel to the “inflation fire” by using budget tricks at sunset to hide the true cost of Manchin’s alleged deficit-cutting bill.