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Rep. Moore decries White House touting Inflation Reduction Act as prices skyrocket

The Biden administration  held a star-studded celebration Tuesday at the White House to tout the passage of the Inflation Reduction Act.

Democrats’ celebration of Congress passing President Joe Biden’s signature legislation comes as the national economy continues to remain in an inflationary state.

On the same day of the White House’s celebration, updated inflation data was released that showed the economy had yet to shake free from rising consumer costs, which triggered a massive sell-off on Wall Street.

Tuesday was the worst stock trading day in more than two years, according to reports.

Citing the worse-than-expected inflation report in a Wednesday floor speech, U.S. Rep. Barry Moore (R-Enterprise) lamented the Biden administration’s celebratory event.

“President Biden’s Inflation Reduction Act is bringing fire and rain, to the White House and the American people,” said Moore. “Yesterday, Biden and a host of celebrities and politicians, highlighted by a James Taylor serenade, celebrated their Inflation Reduction Act, even as the economy cratered in real time. As the President spiked the football on his supposed accomplishment, the Dow tanked nearly 1,300 points and the Consumer Price Index rose to 8.3%.”

The South Alabama congressman lambasted what he called the “Green New Deal policies” that he asserted would hold a negative impact on the national debt.

“President Biden and Speaker Pelosi have taken every opportunity to herald the deficit reduction the so-called Inflation Reduction Act will provide,” said Moore. “But the non-partisan Congressional Budget Office just updated the score for the new law, and it’s worse than we thought.

“The reckless government spending on Green New Deal policies in this bill will increase our deficit through 2026. This means the IRS will need to take an additional $60 billion from middle-class Americans through increased audits to pay for this out-of-control spending.”

The White House and congressional Democrats are actively touting the federal government “taking more money” from the American people’s pockets, according to Moore.

“It shouldn’t surprise anyone that we are already suffering the negative effects of this spending,” he said. “But Democrats are basking in the sunshine of their political accomplishment despite the economic storm it brings for the American people.

“Remember: Democrats aren’t just taking more money out of your wallet – they are celebrating it.”

Dylan Smith is the editor of Yellowhammer News. You can follow him on Twitter @DylanSmithAL

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