The Congressional Budget Office is out with an updated score on the Democrats ill-advised and dishonestly titled "Inflation Reduction Act."
According to new numbers, the legislation will not only increase inflation, but also makes the budget deficit worse and further empowers the IRS.
Just in time, CBO comes out with an updated, dramatically worse score for the “Inflation Reduction Act.”
— Mike Palicz (@Mike_Palicz) September 8, 2022
CBO finds the Dem bill will *increase* the deficit through 2026.
Oh, and the IRS will take an extra $60B from taxpayers via increased audits than previously estimated. https://t.co/u6x4PgFtXC pic.twitter.com/XLbs7Xvh6H
The White House has repeatedly claimed the legislation, which passed without any Republican support, would not only reduce inflation but would also bring down the federal deficit. Additionally, they've touted the bill as a historic Green New Deal style "investment."
Meanwhile Democrat Senator Joe Manchin, who worked with Majority Leader Chuck Schumer to get the legislation over the finish line, is taking a hit in the polls.
The polling for Manchin is also brutal. It finds that 51 percent of registered voters now have an unfavorable opinion of him, compared to just 21 percent who have a favorable view. In the same poll last month, Manchin was nearly even, with 34 percent favorable and 35 percent favorable.
That means that in a matter of a few weeks, Manchin’s favorability dropped a net 29 points.
After voting for the bill, Manchin admitted it will not reduce inflation.
VAUGHN: "Is it misleading to call it the Inflation Reduction Act when it won’t make their grocery bill cheaper or everyday goods cheaper for them immediately?"
— Daily Caller (@DailyCaller) August 17, 2022
MANCHIN: "Why would it...We haven’t said anything happens immediately to turn the switch on and off." pic.twitter.com/NaiULvfHyy
Biden hands Manchin the pen he used to sign the Inflation Reduction Act into law pic.twitter.com/GqIJFQocVK
— POLITICO (@politico) August 16, 2022