In an interview with Fox News’ “Sunday Morning Futures,” Senator Ted Cruz (R-Texas) criticized the $700 billion Inflation Reduction Act, a reduced iteration of the Build Back Better Act.
Cruz told host Maria Bartiromo that the legislation was a “terrible” and “massive power grab” by Democrats because it would raise gas prices and double the size of the Internal Revenue Service.
“The Democrats are on the cusp of a really terrible bill,” Cruz warned before the bill was passed. This law will affect manufacturing. It will kill manufacturing jobs in this country. You will hit small businesses. This bill will raise gas prices. It has billions in new taxes on US oil and gas production. We’ve introduced amendments to try to repeal those new taxes, so all the Democrats say they’re concerned and want to lower gas prices — they all voted to raise taxes on gas and raise the price at the pump.”
“This bill creates 87,000 new agents for the IRS,” he continued. It doubles the size of the IRS. These IRS agents are designed to follow you. They are not designed to go after billionaires and big corporations. It has been designed to go after small businesses and families operating across this country. The Democrats make the IRS bigger than the Pentagon, plus the State Department, plus the FBI, plus the Border Patrol combined. The IRS will be bigger. This is a massive power grab.”
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