Taxes On Fuel, Business, Medicines, And More In ‘Inflation Reduction Act’

August 8, 2022
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Americans for Tax Reform (ATR) has listed several taxes in in the so-called “Inflation Reduction Act” that passed the Senate on Sunday — which Democrats now hail as a “climate” bill, since the Congressional Budget Offices says it will hardly reduce inflation.

These taxes include taxes on fossil fuel, which will raise energy costs for working-class families, still struggling with high gas prices; taxes on businesses that will affect consumers and entrepreneurs; taxes on medicines; and taxes that affect pensions.

Notably, President Joe Biden promised that the bill will “bring down family energy bills by an average of $500 a year” and that he would not tax those earning less than $400,000 per year. ATR’s analysis suggests that he will violate both promises...

To read more visit Breitbart.

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