The Internal Revenue Service will establish a centralized office to implement elements of the tax and spending bill that President Joe Biden signed last week, including almost 87,000 new IRS agents, the agency’s chief says.
Bush Republicanism, that zombie political persuasion which in its heyday did for the GOP and the conservative movement what Jimmy Carter and Mike Dukakis did for the Democrats, might not quite be dead.
President Joe Biden signed the Inflation Reduction Act into law on Tuesday, a move heralded by the Biden administration as a huge win and by Republicans as a devastating loss.
President Joe Biden promised on Thursday that the so-called “Inflation Reduction Act” wouldn’t raise taxes on Americans making less than $400,000 a year. But, in fact, the bill would increase taxes collected from the American people by more than half a trillion dollars, affecting both rich and poor alike.
The Affordable Care Act, No Child Left Behind, and the USA PATRIOT Act received new competition for the title of Most Inappropriately Named Bill when Senate Democrats unveiled the Inflation Reduction Act.
The Democrats’ marquee bill to reduce inflation would likely have zero impact on inflation, according to a study by the influential Penn Wharton Budget Model.
