© Anthony Behar
NY: Mayoral Candidate Sliwa Burns Face Masks After Mandate Is Lifted
NEW YORK (77WABC) — 77WABC owner and operator and Red Apple Group Chairman CEO John Catsimatidis argued Tuesday that Democrat lawmakers are lying about solely raising taxes on the rich in the inflation reduction act.
Cats told Cavuto: Coast to Coast on Fox News that Democrats are taking advantage of the poor and middle class who do not understand the “real economy.”
Watch my interview on @FoxBusiness where I discuss oil prices and food inflationhttps://t.co/od1PgyHtwk
— John Catsimatidis (@JCats2013) August 2, 2022
The Biden administration claims that Americans making less than $400,000 will not pay more if the inflation act passes. The Inflation Reduction Act of 2022 involves at least $260 billion in spending over 10 years.
It would also raise taxes by $326 billion in the same period. That’s according to an analysis by the Joint Committee on Taxation, a nonpartisan congressional commission.
Republicans have denounced the bill as a giant tax increase and a major expansion of government spending.
