In an interview on Fox News Channel’s “Sunday Morning Futures,” Sen. Ted Cruz (R-TX) slammed the $700 billion Inflation Reduction Act, a scaled-down iteration of the Build Back Better Act.
Cruz told host Maria Bartiromo that the legislation was “terrible” and a “massive power grab” by the Democrats because it would raise gas prices and double the size of the Internal Revenue Service.
“The Democrats are on the verge of ramming through what really is a terrible bill,” Cruz warned prior to the bill’s passage. “This bill will hammer manufacturing. It will kill manufacturing jobs in this country. It will hammer small businesses. This bill will drive up gas prices. It has billions in new taxes on U.S. oil and gas production. We introduced amendments trying to take those new taxes out, so all the Democrats say they’re worried and want to lower gas prices — they all just voted to raise gas taxes and to raise your price at the pump.”
“This bill creates 87,000 new IRS agents,” he continued. “It doubles the size of the IRS. Those IRS agents are designed to come after you. They’re not designed to come after the billionaires and the big corporations. They’re designed to come after small businesses and working families across this country. The Democrats are making the IRS bigger than the Pentagon, plus the Department of State, plus the FBI, plus the Border Patrol combined. The IRS is going to be bigger. This is a massive power grab.”
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