BIDEN TOLD 2 BIG LIES ABOUT THE SO-CALLED INFLATION REDUCTION ACT
Written by Peter Boykin on August 17, 2022
Shared By Peter Boykin – American Political Commentator / Citizen Journalist
BIDEN TOLD 2 BIG LIES ABOUT THE SO-CALLED ‘INFLATION REDUCTION ACT’
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Joe Biden made two false claims while trying to sell the Inflation Reduction Act [which is really a climate spending bill and a tax hike] to the American people.
Here they are, courtesy of Breitbart News:
Tax credits:
Claim: Biden claimed the bill gives tax credits to American consumers for electric vehicles “if those vehicles were made in America.”
Verdict: False. The Inflation Reduction Act does provide tax credits for electric vehicles made in America — but also for those made in Mexico and Canada as well.
Middle-class taxes:
Claim: Biden said no Americans “earning less than $400,000 a year will pay a penny more in federal taxes” as a result of billions to drastically boost IRS audits.
Verdict: False. The bill does not include any provisions requiring the IRS to avoid targeting working and middle-class Americans with new IRS audits. In fact, the Congressional Budget Office estimates that about $20 billion will be squeezed from Americans earning less than $400,000 a year as a result of the audits.
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