Inflation Reduction Act Receives ‘No’ Votes from Joe Wilson and Jeff Duncan

By Better Today On Mar 16, 2024

TL/DR –

The Inflation Reduction Act, which seeks to invest $369 billion in climate change initiatives and $64 billion to extend the expanded Affordable Care Act for three years, passed without support from Aiken County’s Congressional delegation. Critics, including U.S. Rep. Joe Wilson, R-S.C., argue that the bill, which also calls for a 15% corporate minimum tax, prescription drug pricing reform, increased tax enforcement, and elimination of certain tax loopholes, will exacerbate inflation and financial strain experienced by Americans due to increased government spending. The bill, which has been approved by the Senate, is expected to be signed by President Joe Biden.

Inflation Reduction Act Receives No Support from Aiken County

On August 13, the Inflation Reduction Act cleared Congress without backing from Aiken County’s Congressional Representatives. U.S. Representative Joe Wilson, R-S.C., was among the 207 Republicans voting against the bill.

This new legislation seeks to invest $369 billion in climate change combats and $64 billion to extend the expanded Affordable Care Act for an additional three years. The bill also advocates for a 15% corporate minimum tax, reform in prescription drug pricing, enhanced tax enforcement by the IRS and the abolition of the carried interest loophole.

Wilson criticized the bill on Twitter, suggesting it will increase inflation and hurt American families. He lambasted the bill’s excessive spending and accused Democrats of being disconnected from reality.

U.S. Representative Jeff Duncan of southwestern South Carolina, including Edgefield County, also opposed the bill. Duncan argued the bill’s potential effects, such as tax increases, greater reliance on China, and expanded IRS powers, would be detrimental to Americans and small businesses.

He further stated the bill doesn’t address inflation, instead exacerbating the financial burden on Americans through increased government spending. He labelled the legislation as the ‘Inflation Acceleration Act’ and argued it will deepen a potential recession.

Duncan suggested that instead of securing Americans by amplifying school security or border control, the bill aims to double the IRS’s size and employ more agents to target hardworking American taxpayers.

U.S. Representatives Nancy Mace, William Timmons, Ralph Norman and Tom Rice, all South Carolina Republicans, also voted against the bill, while House Majority Whip Rep. Jim Clyburn, D-S.C., voted in favor.

The Senate has already given the bill a thumbs up on a 51-50 party line vote. South Carolina Senators Lindsey Graham and Tim Scott, along with their 48 Republican colleagues, voted against it. The bill now awaits President Joe Biden’s signature.