(CNSNews.com) – The Inflation Reduction Act, also dubbed the Manchin-Schumer tax and spend bill would reduce after-tax income for every taxpayer, reduce long-term growth, and cost 30,000 jobs, according to the Tax Foundation, but Democrats support it, and Rep. Roger Marshall (R-Ky.) said he can’t explain why.
“I don’t have an explanation why. It’s just in their DNA, they love to spend money, they love to borrow money and they love to drive inflation. That’s what Democrats do but You’re right this particular bill is gonna drive inflation and kill jobs. The corporations don’t pay taxes, they collect taxes,” he told Fox Business’ “Mornings with Maria Bartiromo.”
“I think of Kansas. I think of Landall Corporation, which makes the best trailer in America, and if their taxes go up, they’re going to have less capital to re-invest and it’s going to kill jobs and then they’ll have to pass that cost onto consumers as well, but this is what Democrats do. Really Joe Biden wants these higher taxes. It’s just in their DNA,” the congressman said.
Marshall said he couldn’t vote for the CHIPS bill, because it amounted to “corporate welfare.”
“I could not unfortunately. It is corporate welfare. Why would we give them a big break, some very successful industries a big break and then we’re turning around and going to be taxing other manufacturers? We’re going to be driving corporations offshore,” he said.
“I just think it’s hypocritical. I think it’s bad for the economy. Look, we need to resource and get manufacturing back to this country, not drive it off. I thought there was so much pork in the bill it wouldn’t work,” the congressman added.
The 17 Republican senators who voted for the CHIP Act became “a heated topic” at the Republican conference, Marshall said.
“I think they did what they thought was best for their states. I disagreed, but Republicans do need to be responsible. When we get the gavels back, we need to be much more responsible with spending as well,” he said.
“Look, we may not be able to get the government open unless we can come to some type of conclusion this fall as well and I think that’s what Joe Manchin is setting there waiting on. I’m anxious to see what the deal is he’s been cut to get his vote,” the congressman said.
Sen. Krysten Sinema (D-Ariz.), the Democratic holdout on the Inflation Reduction Act, should take the time to look over the bill “and keep working on it.”
“I think she was deeply offended that they didn’t show it to her sooner and that they didn’t come to her for the last second and she wasn’t part of the Manchin-Biden deal to start with. I think that she– certainly, I would be upset if I was her and I would take the time to read this bill to what’s in it to see if it’s going to hurt my state. There’s no way you can get through this in a week’s time. There’s a lot of room for improvement on the bill,” Marshall said.
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