WASHINGTON – President Joe Biden (D) officially signed the Inflation Reduction Act (IRA) into law on Tuesday. Different Florida politicians around the state showcased their opinions on the highly debated and disputed bill. While one side states that the bill will make strides to fixing the 40-year inflation numbers the nation has seen recently, and the other side states that the bill will only worsen inflation, it appears that only time will tell the IRA’s efficacy once Americans see how it affects their pocketbooks. But as for now, the jury is still out.
Senate hopeful and current Rep. Val Demings (D-FL) came out in support of the bill, stating that it will “Lower energy costs for Florida families while fighting climate change.” And will save senior citizens an average of $900 dollars a year.
Because of the Inflation Reduction Act, billionaire corporations are finally going to pay their fair share in taxes. No more free rides.
— Rep. Val Demings (@RepValDemings) August 16, 2022
“Because of the Inflation Reduction Act, billionaire corporations are finally going to pay their fair share in taxes. No more free rides," stated Rep. Demings.
On the other side of the coin, others in the House of Representatives such as Rep. Byron Donalds (R-FL) have found the “reduction” part of the bill ironic.
Inflation “Reduction” Act
🚨$400+ billion for the Green New Deal
🚨$80 billion for IRS to double in size and conduct 1 million more audits per year on taxpayers making less than $200K
🚨CBO Confirms DDems’Plan for More IRS Audits Will Hit Americans Earning Less Than $400K
— Congressman Byron Donalds (@RepDonaldsPress) August 16, 2022
“Inflation ‘Reduction’ Act $400+ billion for the Green New Deal. $80 billion for IRS to double in size and conduct 1 million more audits per year on taxpayers making less than $200K. CBO Confirms DDems’Plan for More IRS Audits Will Hit Americans Earning Less Than $400," tweeted Rep. Donalds.
However, Rep. Debbie Wasserman Schultz (D-FL) states that the IRA wont “raise taxes one cent on families making under $400k a year.”
We did it!
The #InflationReductionAct lowers health, prescription Rx & energy costs!
And it doesn't raise taxes one cent on families making under $400K a year. https://t.co/YALShjYdPa— Rep. Debbie Wasserman Schultz (@RepDWStweets) August 16, 2022
“We did it! The #InflationReductionAct lowers health, prescription Rx & energy costs! And it doesn't raise taxes one cent on families making under $400K a year," added Rep. Wasserman Schultz.
