On the recordAugust 3, 2022
now, on the Inflation Reduction Act, this is the second place where the numbers that we read this morning show that the Democrats are on the move and that Republicans are in retreat. Today's news provides another bevy of reminders of why the Inflation Reduction Act is not only bold and commonsense but is extremely popular with the American people. This morning, five former Treasury Secretaries--including former Secretary Hank Paulson, who served under President George W. Bush-- released a statement praising the Inflation Reduction Act and urging Congress to move quickly to secure its passage. The bipartisan group wrote that the Inflation Reduction Act ``will help increase American competitiveness, address our climate crisis, lower costs for families, and fight inflation--and should be passed immediately by Congress.'' The bipartisan group of Treasury Secretaries also affirmed what Democrats have been saying for days: The Inflation Reduction Act will not--no matter how much our Republican colleagues argue to the contrary--increase taxes for any family making less than $400,000 a year. Again, our proposals call for closing loopholes that have long enabled the biggest companies in America to avoid paying their fair share. And even former Republican Treasury Secretary Hank Paulson is now calling on Congress to pass the Democratic agenda. He is in very good company.…





