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Senate Passes Schumer-Manchin Middle-Class Tax Increase and Green Boondoggle Bill

Senate Passes Schumer-Manchin Middle-Class Tax Increase and Green Boondoggle Bill

“The bill raises more than $700 billion in tax revenue and spends over $400 billion. The key elements include extending Affordable Care Act subsidies, a suite of climate-related spending and tax credits, provisions on fossil fuel energy, a 15% minimum corporate tax rate and more.”

https://twitter.com/RiegerReport/status/1224449680655802368?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1224449680655802368&ref_url=https%3A%2F%2Flegalinsurrection.com%2F2020%2F02%2Flive-trumps-team-house-managers-give-final-closing-arguments-followed-by-floor-speeches%2F

With Kamala Harris casting the tie-breaking vote, the Senate passed the misnamed “Inflation Reduction Act” on party lines. Not one Republican voted for the middle-class crushing monstrosity.  The bill will now move to the House for a vote.

Fox News reports:

The Senate Sunday passed the Democrats’ social spending and taxation bill after a marathon “vote-a-rama” session that lasted more than 15 hours, marking a major win for the Democratic agenda just over three months before Election Day.

Vice President Harris cast a tiebreaking vote to allow the legislation to pass 51-50.

. . . . The passage of the bill is the culmination of more than a year of intra-party negotiations among Democrats trying to pass a party-line bill. They used a process called budget reconciliation, which allows them to get around the Senate filibuster, to do it.

But even avoiding the filibuster, Democrats still encountered a major hiccup toward the end of their effort to pass it. A drafting issue would have increased taxes on companies worth less than Democrats’ intended $1 billion threshold if they were subsidiaries of a firm worth more than that amount.

Sen. John Thune, R-S.D., introduced an amendment to deal with the issue, which cost $35 billion. But his proposal would have been paid for by extending the state and local tax (SALT) deduction cap for one year. That would have complicated passage of the final bill, because many Northeast Democrats detest the SALT cap.

The Senate passed Thune’s amendment. But it changed the way to pay for it by using an amendment from Sen. Mark Warner, D-Va., to replace the SALT cap with “a two year extension of a so-called loss limitation policy.” That amendment passed with Harris’ help, and cleared the way for final passage.

. . . . The bill raises more than $700 billion in tax revenue and spends over $400 billion. The key elements include extending Affordable Care Act subsidies, a suite of climate-related spending and tax credits, provisions on fossil fuel energy, a 15% minimum corporate tax rate and more.

Various provisions were voted down by Demcocrats during the process, including protections for taxpayers making less than $400k.

Needless to say, people have thoughts.

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Comments

The next Congress can undo it.

    Conservative Beaner in reply to geronl. | August 7, 2022 at 7:54 pm

    Biden will just Veto it.

    Not without a Republican president.

    The Gentle Grizzly in reply to geronl. | August 7, 2022 at 8:34 pm

    But won’t.

      Because it can’t.

      Here is the deal

      Even with a Republican president we have a grand total of -let me check- ZERO leverage over Democrats because we have adopted “MUH I HATE PORK!!!!!!!!!!” into our doctrine which means once a seat goes Democrat there is nothing we could do to make it squish to our side because we can’t give them any incentive to betray their side.

      Yes we avoid sending 100 grand in federal tax dollars to fix a pothole that would cost 10 grand to repair but we do lose a great deal of our power by standing against pork.

      There are reasons why 20th century Republican Presidents (and yes that includes Raegan) used pork to get important things for their side.

      That isn’t even considering that they are not going to have a Republican president so whatever they do will either die a filibustered death or be vetoed by Joe Biden.

      If we don’t win 2022 we won’t even be able to stop the next bill like this, and if we don’t win 2024 there will be an extra 4 years of it.

      That is why we do our side a great disservice by using expensive myths.

      The myth for example of how Republicans could undo this while there is a Democrat president.

    Mauiobserver in reply to geronl. | August 7, 2022 at 10:57 pm

    If the GOP wins control they need to pass dept by dept budgets. That way Biden will not likely veto most. Then when it comes to the IRS, EPA, Education, etc. drastically cut them or don’t fund at all.

    Don’t know what would happen but it would definitely focus voter’s attention and put a lot of squishy congress critters in the hot seat.

    angrywebmaster in reply to geronl. | August 8, 2022 at 5:50 am

    They would need a veto proof majority in the house and senate, and they won’t get that in the senate in this cycle.

      CommoChief in reply to angrywebmaster. | August 8, 2022 at 8:55 am

      True, but incomplete. Assuming 235 r in HoR and 52 r in Senate they can’t override a veto without crossover votes. Passing legislation that does X where X is supported 2/3 + by voters creates a dilemma. The WH must then choose to:
      1. PO voters, particularly independent voters
      2. PO the extremists in his base

      So short term he gets a ‘win’ but damages both his credibility and the d/prog brand for 2024. A series of these votes by a r controlled Congress for very basic but very popular things highlight the difference between the r and d. Long term it pulls independent voters to r for the next election cycle.

      Then the r have to actually deliver on the promise of ‘elect more r, and a r POTUS and we will pass X into law’. The rino, establishment usually enters the conversation at this point and finds excuses not to pass X or waters down X because reasons.

      The truth is they lose their utility and power once problems get solved. Can’t effectively fundraise using the this election is critical, we must stop d/prog, we must pass X, once X has become law. So they chip away at the edges but never quite solve the problem.

Biden thinks America is not in recession, that there is no problem at the border and crime is under control. And now he is going to sign a bill that will RAISE taxes on American families and send an army of IRS agents after the middle class.

Single/central/monopolistic solutions to sustain progressive prices, a New Deal to spread the Green blight in darkness, and redistributive change schemes scripted on a scientific prophecy for-profit.

Even if the Republican get control of the house and Senate, can’t undo this without 2/3’s to ride over a veto
Not going to happen
And once to hire all those IRS agents, are they going to lose their jobs?” Eleven with a President Trump?

    Danny in reply to gonzotx. | August 7, 2022 at 9:00 pm

    Yes they would lose their jobs if we undo this, and if it isn’t automatic we could make it so in the next bill, and should do so. A politicized agency can’t be allowed to expand.

    Democrats would not have a problem if it was the other way.

The IRS will be tasked with eliminating the underground economy. If you hand the parking valet kid a buck tip when he gets your car you can bet your tuchas that the government will track that kid, note it as gross income, and make him pay tax. Democrats want to balance the budget on sucking every dime out of the little guy. They will only succeed in killing small business and our economy.

The Dems are getting everything they want
Why in the world would they want to replace Biden?
The man has no idea if he is President or senator or retired
He doesn’t even know where he is
He’s the perfect foil

Inflation Reduction Act? LOL!

Anyone who thought it was a good idea to surrender two Georgia senate seats congratulations on being proven wrong yet again.

Anyone who is still trying to undermine attempts at winning senate seats for Republicans in places like PA re-read this article.

Senate elections have consequences, if you are in a position to help or hut someone like Dr. Oz consider this article and think “I could have this up to the next congress or till Biden leaves office”.

I

WARNED

YOU

I WARNED you that Manchin was a snake that just wanted his price met before he lined up like the good little Democrat dog he’s always been, and that all the idiots wishcasting that he was getting ready to switch parties were delusional.

Manchin HAS ALWAYS, and WILL ALWAYS, vote for Democrats when required to.

    Mauiobserver in reply to Olinser. | August 8, 2022 at 12:45 am

    His donors are mostly out of state. I suspect the DNC told him play ball or we will primary you and fund your opponent with mountains of cash and he fell in line.

      Olinser in reply to Mauiobserver. | August 8, 2022 at 1:02 am

      Is that a joke? Manchin and everybody else know that no other Democrat has the slightest chance of winning there.

        Mauiobserver in reply to Olinser. | August 8, 2022 at 2:26 pm

        In a Democratic primary even in West Virginia the party loyalists are far left of the average voter. Don’t know if he could be defeated but if donors sat out his next election he might be vulnerable in the general election if not the primary.

So a crushing recession caused by increased government meddling and exploding inflation caused by massive government overspending will be solved by increased government meddling and more massive government overspending. Right.

Biden: “The only thing in recession is my gums!”

At least the Republicans reigned in their “cross the aisle” instincts on this one. Too bad they couldn’t have done that on the last gun control bill to force Harris to vote.

Time to end the reconciliation process. The congress created this rather recently and it is irresponsible and lets them avoid doing their job.

    Danny in reply to boulder. | August 8, 2022 at 4:13 pm

    We get rid of it when we are in charge, we make it significantly harder to do anything for our side; then the Democrats restore it when they are in charge…..

    Back to basics.

I wanna tell you Schumer. I wanna tell you Pelosi. You have released the whirlwind. And you will pay the price.

200K people in GA cast r ballot in Nov 2020 but failed to vote in the Jan Senate run off elections. Warnock and Ossoff won by 55K and 71K votes. If 36% of those Nov r voters could have been bothered to show up and cast a r vote in Jan we have a 52/48 Senate under r control. If only 28% showed up we have a 51/49 Senate under r control.

The lesson here is that voting matters. Don’t forfeit. See low voter participation in previous school board elections and the current rampant insanity in many school districts when the majority convinces themselves that their vote won’t matter or they are just too busy. Register, volunteer and vote.