What they have done, instead, is claim - citing an estimate from Congress’s nonpartisan Joint Committee on Taxation - that the legislation would raise taxes on the middle class and that this violates one of Joe Biden’s campaign pledges.įirst, the act wouldn’t raise personal income taxes on anyone. of resources show that in practice they are pro-tax cheater. How can Republicans attack such a bill? They can’t openly defend the interests of tax evaders and avoiders, although their long-term efforts to starve the I.R.S. And it would seek to save Medicare money by giving the program the power to negotiate over drug prices. The legislation would also give a desperately underfunded Internal Revenue Service more resources to crack down on tax cheats. The biggest revenue source is to be a new minimum tax on large corporations. This new spending would be fully paid for, and then some, mainly by cracking down on tax avoidance and evasion. We’re already seeing just how hard it is for Republicans to attack this approach, and it will get even harder once the public starts to see the benefits of environmental investments. And that’s a good omen for Democrats’ new approach to climate policy - one that relies mainly on carrots rather than sticks, on incentives to do the right thing rather than penalties for doing the wrong thing. critique of the bill is extraordinarily weak. Republicans are, of course, attacking the legislation.īut when I look at the substance of those attacks, such as it is, I can’t help feeling more cheerful than I have in months.įor one thing, the debate over the proposal feels like a return to a more innocent time, when Republicans tried to make their case with dishonest claims about economic policy - not insane conspiracy theories and attempts to overthrow democracy.įor another, the G.O.P. Kyrsten Sinema willing, Democrats appear to be on the verge of passing the Inflation Reduction Act - a bill that probably would, indeed, reduce inflation but is mainly a desperately needed effort to limit climate change.
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