huh? capital t for thing. hundreds of billions for climate change. deficit reduction and tax hikes. it could also turbocharge the i.r.s. more on that in a moment. dana: democrats named it the inflation reduction act. republicans say it s laughable and not even bernie sanders is buying it. i want to take a moment to say a few words about the so-called inflation reduction act that we are debating this evening. i say so-called, by the way, because according to the cbo and other economic organizations that have studied this bill, it will, in fact, have a minimal impact on inflation. dana: team fox coverage. marc thiessen is on deck with analysis. we begin with jacqui heinrich at the white house. democrats certainly think that bringing key priorities on healthcare and climate across the finish line ahead of the mid-terms will turn things around for them. poll after poll has shown that the biggest problem for the president and his party is inflation. and even though they ve
democrats wasted no time taking a bow. at last we have arrived and we are elated. every member of my caucus is elated about what happened because we really have changed the world in a way that you rarely get an opportunity to do that. it is going to make a difference to my grandkids. the world will be a better place for my grandchildren because of what we did today. harris: many economists paint a very different picture from he just said calling the inflation reduction act saying it will do exactly the opposite and republicans are warning the legislation will wind up raising taxes on the middle class. they call it the inflation reduction act. the most orwellian name in the senate since i ve been there. people paid 26 paychecks a year, biden policies have consumed four of those 26 paychecks out of every year. that is appalling. it is doubling appalling they would spend more and raise taxes in the middle of a recession while we re in inflation. harris: the spending plan
not one g.o.p. and are voted in favor of the nearly $740 billion spending bill. meanwhile vice president kamala harris had to come in and break the 50/50 tie. on this vote, the yeas are 50 and the nays are 50, the senate being equally divided the vice president votes in the formative in the bill as amended is passed. that vote came after a marathon 16 hours session over the weekend, they called it vote aroma word demo republicans add tried to plan amendments and when it was all over the package still contain hundreds of billions of dollars from climate change, deficit reduction, and tax hikes. the supersize of the irs adding 807,000 agents while the democrats are putting themselves in the back for this and getting their wit liberal wish list past. republicans warned this is turning into a war in the middle class that will backfire big time on the dems come november. here is hundred that ted cruz. all the democrats say they are worried and want to lower gas prices, they al
act will unleash an avalanche of taxpayer money on coalition-list items like climate change. it will also jack up taxes during the recession. republicans say they will pay the price and the midterms. president biden says this is a major win. president biden: expect you to help, i m going to need you to. for example, no state medicare $2,000 to go. that s a big deal. some of us, it won t kick in for a little bit, but it s all good. when you sit down at the end of the month, you will see more bills. if you love getting audited, listen up: democrats will send irs goons for your bank account. after giving them $80 billion to ramp up enforcement, hiring 87,000 new irs agents. get this: the agency will end up with more staffers than the state department, fbi, and border patrol combined. democrats think they are clever by calling it the inflation reduction act, but even senator bernie sanders sees me that charade. i want to say a few words about the so-called inflation a
democrats are not only paying for this $700 billion tax and spend package by raising taxes, super sizing the irs to bring more muscle on so they can go after taxes. the tax reduction act the senate passed over the weekends gives the irs $80 billion to add agents to their roster spending money to bring in more money. this is six times the current annual budget of the irs. half of the $80 billion goes to inflation efforts, having auditors pour over taxes with a fine tooth comb to make sure they re paying their fair share. we also empowered the irs to go after wealthy tax cheats so that we collect taxes that are already to you and owing from very wealthy people that try to hide their income. not contribute to the country. the white house and the irs commissioner insists that audit rates for anyone making less than $400,000 will not increase. but last year half hoff all irs audits were people making $75,000. republicans say there s no way that the irs can guarantee that a bee