On the recordSeptember 19, 2022
I thank the gentleman for being here. We talked about what they have referred to as the Inflation Reduction Act. I think a better title for it is the Expensive Attempt to Distract Voters Act. We know the bill will not cut the deficit, and we know CBO has said that the bill will have a tiny effect on inflation. Penn Wharton Institute in my State estimates that the bill would increase inflation this year and next. So how can you call a bill Inflation Reduction Act if it doesn't actually decrease inflation? Then shortly after that, in fact, just 8 days later, you would think at some point, Madam Speaker, the President would stop the spending spree and that at some point there would be a connection made with all of the spending, the rising deficits and debt, and the rising prices. But what did the President do just 8 days later? He unilaterally--we think unconstitutionally--but unilaterally spent more than half a trillion dollars on blanket student loan forgiveness, much of which went to high-income earners. Madam Speaker, $500 billion, that is half a trillion dollars. One constituent in my district went out and talked to some workers in a foundry, and you should have heard what they said about this bill, Madam Speaker. One of them said: Why should I or why should a plumber need to pay the tuition and the debt for a medical student, maybe a graduate medical student? They are angry that they are being asked.…





