{"id":1594123,"date":"2022-08-08T09:21:02","date_gmt":"2022-08-08T13:21:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1594123"},"modified":"2022-08-08T09:21:08","modified_gmt":"2022-08-08T13:21:08","slug":"so-called-inflation-reduction-act-a-massive-power-grab-by-democrats-sen-cruz","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/so-called-inflation-reduction-act-a-massive-power-grab-by-democrats-sen-cruz\/","title":{"rendered":"So-Called Inflation Reduction Act a \u2018Massive Power Grab\u2019 by Democrats: Sen. Cruz"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fso-called-inflation-reduction-act-a-massive-power-grab-by-democrats-sen-cruz%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1594123&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Sen. Ted Cruz (R-Tex.) has criticized Democrats for pushing their so-called Inflation Reduction Act, which he warns is a \u201cterrible bill.\u201d<\/p>\n<p>The bill will double the size of the Internal Revenue Service (IRS). But IRS agents are not designed to go after \u201cbillionaires and big corporations,\u201d Cruz <a href=\"https:\/\/www.foxnews.com\/politics\/sen-cruz-blasts-dems-pushing-terrible-spending-bill-lying-americans\">said<\/a> in an interview with Fox News. \u201cThey\u2019re designed to come after small businesses and working families across this country \u2026 The Democrats are making the IRS bigger than the Pentagon, plus the Department of State, plus the FBI, plus the Border Patrol combined \u2026 This is a massive power grab.\u201d<\/p>\n<p>Senate Democrats <a href=\"https:\/\/www.theepochtimes.com\/senate-democrats-near-passage-on-health-and-climate-bill-after-overnight-vote-a-rama_4648557.html\">passed<\/a> the Inflation Reduction Act on Aug. 7 with a 51 to 50 vote, with Democrat Vice President Kamala Harris casting her tie-breaking vote in favor of her party. The estimated $740 billion package now heads to the House for vote.<\/p>\n<p>Over $300 billion will go to climate change and energy, which is the largest clean energy investment made by a federal government in American history. It also includes tax credits for electric vehicles. The bill institutes a 15 percent minimum tax for corporations making over $1 billion a year.<\/p>\n<p>Cruz warned that the Inflation Reduction Act will \u201cdrive up gas prices\u201d and \u201ckill manufacturing jobs.\u201d The bill has \u201cbillions in new taxes\u201d charged against U.S. gas and oil production, a decision that will raise gas prices at the pump, he said.<\/p>\n<p>According to Senate Majority Leader Chuck Schumer (D-N.Y.), the bill will \u201creduce\u201d the U.S. budget deficit.<\/p>\n<p>But a recent <a href=\"https:\/\/www.theepochtimes.com\/inflation-reduction-act-will-add-to-deficit-for-first-six-years-cbo_4643695.html\">report<\/a> by the Congressional Budget Office (CRO) shows that even though the budget deficit will be lowered by $101.5 billion over a 10-year period, the deficit will actually increase by $24.6 billion in the first six years between 2022 and 2027.<\/p>\n<p> Widespread Criticism <\/p>\n<p>Speaking at the Conservative Political Action Conference<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sen. Ted Cruz (R-Tex.) has criticized Democrats for pushing their so-called Inflation Reduction Act, which he warns is a \u201cterrible bill.\u201d The bill will double the size of the Internal Revenue Service (IRS). But IRS agents are not designed to go after \u201cbillionaires and big corporations,\u201d Cruz said in an interview with Fox News. \u201cThey\u2019re [\u2026]<\/p>\n","protected":false},"author":186,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1594123","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1594123","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/186"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1594123"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1594123\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1594123"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1594123"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1594123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}