WASHINGTON, D. C. (WTRF)- We’ve been hearing mixed reaction from Democratic and Republican lawmakers about the Inflation Reduction Act.
Senator Joe Manchin defends the bill, but Senator Shelley Moore Capito isn’t happy with it.
Senator Capito says ‘raising taxes and pumping hundreds of billions of dollars into the economy won’t reduce inflation’. She also believes it will cause the IRS to go after small businesses and individuals and says more than 50% of the tax’s impact would be on manufacturers. Senator Capito says that would crush the manufacturing and coal industry.
But on the opposite end, Senator Joe Manchin believes it’s not harmful. Senator Manchin says billions of dollars will help revitalize the coal industry. That includes adopting environmental controls and making coal-powered plants more efficient.
He also says it will secure black lung healthcare for good and produce more jobs.
“Guys, come on. This is about America. We have one chance that’s transformative for us to meet the energy, demands , and needs and the threats that we have around the world, and be able to invest in the energies that we will need in the future.”Sen. Joe Manchin (D-WV)
“I’m very disappointed, and still can’t figure out how this deal came together. The charts show those sought after are not only the very wealthy, but also those in the $50 to $75 to $100, 000 range, and I think a lot of West Virginians would reject that as a good tactic in terms of finding ways to pay for certain things.”Sen. Shelley Moore Capito, (R-WV)
The Inflation Reduction Act won’t become a law until President Biden signs it, and he says he supports the bill.