During his latest "My Take," "Varney & Co." host Stuart Varney discusses the Democrats' "last minute" inflation plan, arguing the Inflation Reduction Act is of 2022 a "mish-mash of bad policy."
STUART VARNEY: It’s called the Inflation Reduction Act of 2022. But it won't reduce inflation.
We are told that only the rich will pay more in tax. Not true. You'll pay more even if you make less than $200,000.
It’s supposed to cut the deficit, but not until 2027.
The president says he wants a renaissance for manufacturing, but this tax plan hits American manufacturers hard.
What a mess! What a dreadful mish-mash of bad policy.
But despite it all, there's a mad rush to get this giant tax and spend bill passed.
Senator Schumer has just five days to get it done, because summer recess begins this Friday night.
He has to get every Democrat senator on board and voting in person, so there could be a COVID isolation problem.
This is no way to fight inflation or recession. It’s a last-minute plan, cobbled together, so the Democrats can get a tax and spend package on the books before the November elections.
I hope at least one Democrat in the senate figures out that the Inflation Reduction Act of 2022 is bad policy, and bad politics.