Senate Democrats pass sweeping bill to fund climate change agenda, massively expand IRS

AP Photo/Andrew Harnik

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U.S. Senate Democrats on Sunday passed the so-called Inflation Reduction Act, which raises taxes on every U.S. citizen earning above $30,000. The additional taxes are in direct contradiction to Joe Biden’s campaign promise that he would never raise taxes on anyone earning below $400,000. 

The vote was passed during an all-night session called the “vote-a-rama” in which numerous bills were voted on late Saturday night. Debates lasted well into Sunday afternoon, with the final vote being put up around 3:00pm, according to the Daily Wire. 

All 50 Senate Democrats voted to pass the bill, while all 50 Republicans voted against it. Vice President Kamala Harris served as the tiebreaker. 

The legislation will now head to the House of Representatives, which will reconvene at the end of the week, the Hill reported. 

The legislation, which is made up of $740-billion in new spending will be largely dedicated to funding a $369 billion climate spending package. 

According to an analysis performed by Senate Majority Leader Chuck Schumer’s office, the money will be dedicated toward cutting carbon emissions by 40 per cent by 2030. 

The package includes tax credits of $4,000 and $7,500 to subsidize the purchase of new and used electric vehicles. The bill also contains a 16.4 cents per barrel tax on crude and petroleum products imported into the U.S. 

In addition to raising the price of oil products and subsidizing the EV industry, the bill includes Democrat-driven healthcare goals by purporting to reduce the cost of prescription drugs for senior citizens. Under the bill, Medicare will be able to negotiate the prices of drugs administered at a pharmacy or general practitioner. The bill also extends Obamacare premiums through 2025. 

Numerous amendments to the bill, including a clean amendment that would have prevented anyone earning under $400,000 from being taxed a single cent more, was shot down to fast-track the bill. 

Crucially, the Democrat's economic package will add close to 87,000 new employees to the Internal Revenue Service, where they will be needed to audit millions of middle-class and working-class Americans.