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Tags: newsmax | spending bill | inflation | irs | jobs

Sen. Marshall to Newsmax: Dems' Spending Bill 'Inflationary,' 'Job-Killing'

(Newsmax/''Spicer & Co.'')

By    |   Monday, 08 August 2022 07:53 PM EDT

Sen. Roger Marshall told Newsmax on Monday that President Joe Biden's Inflation Reduction Act is anything but one, arguing that the bill will exacerbate the nation's economic woes.

''This legislation is actually a tax-and-spend bill. It's an inflationary bill, and it's job-killing as well,'' the Kansas Republican said on ''Spicer & Co.''

Marshall then outlined changes made under the bill, which passed the Senate over the weekend after Majority Leader Chuck Schumer, D-N.Y., negotiated separate deals with centrist Democratic Sens. Joe Manchin of West Virginia and Krysten Sinema of Arizona.

''It's going to raise corporate taxes, and that's going to be passed on down to consumers,'' Marshall said. ''When you raise corporate taxes, there's less money to reinvest in the company, so that's going to kill jobs. When you start to kill jobs, you mess with [the] supply chain.''

''This has a higher tax on discovering and drilling for oil as well, so that's going to impact the price of gasoline,'' he continued. ''Reaganomics would tell me this bill is inflationary, and it's going to kill jobs. It's going to increase the price of gasoline at the pump.''

Marshall then compared Biden's push to raise taxes during what he called a recession to the 1994 movie ''Dumb & Dumber,'' specifically pointing out a provision that would take money from Medicare and direct it toward Affordable Care Act insurance policies.

''Any savings from Medicare should stay in the Medicare program and use those savings for Medicare patients,'' Marshall declared. ''I actually think this is going to drive the costs of prescription drugs up.''

He also took issue with the expansions made to the IRS. Notably, the Democratic legislation would add 87,000 new workers to the agency — doubling its staff, The New York Times reported.

The proposed IRS additions are ''going to be picking on small companies and hardworking Americans,'' Marshall said.

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Sen. Roger Marshall told Newsmax on Monday that President Joe Biden's Inflation Reduction Act is anything but one, arguing that the bill will exacerbate the nation's economic woes.
newsmax, spending bill, inflation, irs, jobs
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2022-53-08
Monday, 08 August 2022 07:53 PM
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