22 Republican governors slam Democrats’ settlement spending bill

Twenty-two Republican governors slammed Democrats’ attempts to settle the spending bill after Senator Joe Manchin struck a deal with his leadership, calling it “another reckless tax and spending spree.”

“The Democrats’ solution to 40 years of high inflation is through another reckless tax and $740 billion spending binge that affects Americans across all tax brackets,” statement A group of 22 Republican governors led by South Carolina Gov. Henry McMaster and Georgia Gov. Brian Kemp.

“While denying a recession, Democrats want higher taxes on businesses and manufacturers that will force consumers to incur higher costs, fuel inflation and exacerbate shortages,” the group continued.

Last week, the federal government reported that gross domestic product (GDP) contracted by 0.9% in the second quarter of 2022, suggesting the economy is entering a recession.

In fact, as the housing market continued to soar amid the pandemic, mortgage debt rose 1.9% last quarter, while consumer prices rose 8.6% year over year in the quarter, the largest gain since the fourth quarter of 1981. The team explained:

With oil 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, commodities, food and utilities. Our citizens can’t afford Joe Biden’s broken promises on taxes and Democrats’ inflation spending, which will only exacerbate the economic crisis they’ve created.

The other 2o Republican governors who signed the statement were: Kay Ivey of Alabama, Doug Ducey of Arizona, Asa Hutchinson of Arkansas, Ron DeSanti of Florida , Brad Little of Idaho, Eric Holcomb of Indiana, Kim Reynolds of Iowa, Tate Reeves of Mississippi, Missouri of Mike Parson, Greg Gianforte of Montana, Pete Ricketts of Nebraska, Chris Sununu of New Hampshire, Doug Burgum of North Dakota, Kevin Stitt of Oklahoma, Kristi Noem of South Dakota, Bill Lee of Tennessee, Greg Abbott of Texas, Spencer Cox of Utah, Glenn Youngkin of Virginia and Mark Gordon of Wyoming.

After raising the deficit in four of the next five years, the Congressional Budget Office found that the Inflation Reduction Act is the spending bill Democrats are now trying to pass to cut the deficit.

John Carney of Breitbart News wrote Wednesday:

Nonpartisan analysts say the Inflation Reduction Act will not reduce inflation, but will reduce the budget deficit by $101.5 billion between this year and 2031, the Congressional Budget Office said. Say Estimated on Wednesday.

However, the budget deficit will increase by $24.6 billion from this year to 2027. The nonpartisan budget analysis firm expects the deficit to fall next year as the new tax provisions are implemented, and then increase each year until 2028.

The shift is due to expectations about when drug pricing changes will take effect. The removal of some of the spending provisions also lowered costs for 10 years, which Republican lawmakers slammed as a stunt to hide the true cost of the bill.

Rep. Jason Smith (R-MO), the top member of the House Budget Committee, also released a fact sheet saying the bill would set the “fire of inflation” by using sunset budget stunts to hide the true cost Add more fuel. Manchin’s so-called Deficit Reduction Act.

Jacob Bliss is a reporter for Breitbart News.write to him jbliss@breitbart.com or follow him on twitter @JacobMBliss.

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