Franklin Pierce
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Democrats claimed the Inflation Reduction Act would help ordinary Americans, but new analysis suggests people making less than $400,000 a year could end up paying $20 billion of the new tax revenue it brings in.
President Joe Biden signed the act into law in August, injecting $473 billion of new spending on climate and healthcare, yet there are strong concerns it will do little to reduce inflation.
In fact, middle class Americans will pay new taxes - directly contradicting Biden's promise to not raise penalties on people earning under $400,000.
All the tax hikes hitting Americans January 1 revealed Electricity costs to soar nest egg not safe | Daily Mail Online
President Joe Biden signed the act into law in August, injecting $473 billion of new spending on climate and healthcare, yet there are strong concerns it will do little to reduce inflation.
In fact, middle class Americans will pay new taxes - directly contradicting Biden's promise to not raise penalties on people earning under $400,000.
All the tax hikes hitting Americans January 1 revealed Electricity costs to soar nest egg not safe | Daily Mail Online