Preston Brashers, a senior tax policy analyst at the right-leaning Heritage Foundation, told the Epoch Times in an interview that despite Democrats’ insistent claims that the Inflation Reduction Act will not raise taxes on people making less than $400,000 a year, collateral effects from the bill will cause workers and small businesses alike to pay more.
The bill, hammered out as a compromise agreement between moderate Sen. Joe Manchin (D-W.Va.) and Senate Majority Leader Chuck Schumer (D-N.Y.), serves to fulfill a series of broad Democrat aspirations: increasing federal revenue by closing so-called tax “loopholes,” climate change policies, expansion of the Affordable Care Act, commonly known as “Obamacare,” and reducing prescription drug prices….