Connect with us

Hi, what are you looking for?

Politics

Vulnerable Democrats won’t say if they support Manchin bill, raising taxes during recession

Vulnerable House Democrats will not say if they support the Manchin-Schumer Inflation Reduction Act of 2022, or if it is wise to raise billions in new taxes during an economic recession.

The nonpartisan Joint Committee on Taxation (JCT) revealed in an analysis last week that the Manchin bill, which would spend $433 billion on climate change initiatives, would increase taxes by billions of dollars, including on middle-class earners.

According to the JCT, Americans making less than $200K per year would have their taxes increased by $16.7 billion. For taxpayers earning between $200,000 and $500,000, the bill would increase taxes by $14.1 billion.

The bill was introduced just days after the gross domestic product (GDP) contracted for a second consecutive quarter from April-June, signaling the economy had entered into a recession. 

MANCHIN-SCHUMER SPENDING BILL TARGETS TAX LOOPHOLE FAVORED BY INVESTORS

Fox News Digital reached out to the offices of 20 of the most vulnerable Democratic incumbents to see if they would support the Manchin bill and the ask if it is wise to raise taxes during a recession. 

None of the Democratic Members listed provided a response:

DEMOCRATS RELY ON MISLEADING MESSAGING TO SELL MANCHIN-SCHUMER BILL

Rep. Sharice Davids, D-Kan., Rep. Jared Golden, D-Maine, Rep. Elissa Slotkin, D-Mich., Rep. Dan Kildee, D-Mich., Rep. Angie Craig, D-Minn., Rep. Annie Kuster, D-N.H., Rep. Chris Pappas, D-N.H., Rep. Dina Titus, D-Nev., Rep. Susie Lee, D-Nev., Rep. Steve Horsford, D-Nev., Rep. Marcy Kaptur, D-Ohio, Rep. Matt Cartwright, D-Pa., Rep. Elaine Luria, D-Va., Rep. Abigail Spanberger, D-Va., Rep. Kim Schrier, D-Wash., Rep. Cindy Axne, D-Iowa, Rep. Henry Cuellar, D-Texas, Rep. Susan Wild, D-Pa., Rep. Tom Malinowski, D-N.J., Rep. Tom O’Halleran, D-Ariz

Democrat Chuck Schumer is the Senate Majority Leader.

In a press release Wednesday, Sen. Joe Manchin, D-W.Va., said that, “this bill will cut the inflation taxes Americans are paying, lower the cost of health insurance and prescription drugs, and ensure our country invests in the energy security and climate change solutions we need to remain a global superpower through innovation rather than elimination.”

“The mislabeled ‘Inflation Reduction Act’ will do nothing to bring the economy out of stagnation and recession, but it will raise billions of dollars in taxes on Americans making less than $400,000,” said U.S. Senate Finance Committee Ranking Member Mike Crapo, R-Idaho.

The White House has not yet declared the economy is in a recession, despite the GDP falling for two consecutive quarters.

The revelation that the Manchin bill, which received the endorsement of President Biden, would raise taxes, comes after Biden made a 2021 pledge that no American worker making under $400k a year would pay “a single penny” in new taxes.

“I keep hearing in the press ‘Biden’s going to raise your taxes’ – anybody making less than $400,000 a year will not pay a single penny in taxes,” Biden said.

The Senate is expected to take up the Manchin bill for a vote this week. 

Fox Business’ Megan Henney contributed to this report.

Click to comment

Leave a Reply

Your email address will not be published.

You May Also Like

United States

It was about to get worse. Most of the embassy’s staff left Afghanistan that night or early the next day. But Mr. Wilson and...

Politics

The Senate-passed Inflation Reduction Act is expected to have almost zero impact on inflation, according to a new analysis. A University of Pennsylvania Penn...

United States

Wisconsin Republicans’ 14-month investigation into the 2020 election results, which cost taxpayers $1.1 million and turned up no evidence of significant fraud, ended on...

Politics

Democrats may rue the day they titled the Inflation Reduction Act the Inflation Reduction Act. The massive spending package addresses a host of issues....

Europe

The warrant shows federal law enforcement was investigating Trump for removal or destruction of records, obstruction of justice and violating the Espionage Act —...

United States

WASHINGTON — The staggeringly high rate of Russian casualties in Ukraine means that President Vladimir V. Putin may not be able to achieve one...

Politics

Iranian state media on Friday condemned author Salman Rushdie, calling him an “apostate” and his writings “blasphemous” after the Indian-born writer was stabbed before...

Europe

Germany on Friday suspended its military mission to Mali “until further notice,” as terrorists and Russian mercenaries continue to destabilize the embattled African country....