Rep. Claudia Tenney (R-NY) is warning that the proposed Inflation Reduction Act — which is now likely to pass thanks to the support of Sen. Joe Manchin (D-WV) — will just make the situation worse, arguing that we are already in a recession and the legislation will just exacerbate the problem.
Appearing on Newsmax’s “Wake Up America” on Friday, Tenney asserted that President Joe Biden “inherited a robust economy in spite of the pandemic,” but his policies have led to a recession and now things are just going to get worse.
“What they’ve done has created this mess,” the New York Republican said. “We had lower taxes. We were focusing on small businesses that create 60% of the new jobs, and we were also cutting bureaucrat bureaucracy.”
One of the highlights of former President Donald Trump’s economic plan was reducing unnecessary regulations imposed by the federal government, which are a major part of the problem the country is currently facing, said Tenney.
“These bureaucratic regulations are putting the bureaucrats in Washington, the so-called swamp, in charge of everything,” she said. “They’re basically taking our rights away because they have so much power.”
Now, thanks to the policies of the Biden administration, Americans are still struggling due to historically high gas prices, despite the president’s attempts to celebrate the recent news of prices dropping slightly. Enacting another massive spending bill will just be a “disaster,” according to Tenney. Government spending is a major cause of inflation, why would the administration think that piling more spending on top of that would make things any better?
The legislation would include a 20% increase in funding to the Environmental Protection Agency (EPA), “another big bureaucratic agency that’s putting a drain on our energy with unnecessary regulations,” said Tenney.
Biden’s bill also includes spending for the Internal Revenue Service “to give them unfettered access to try to just torment our taxpayers,” the GOP congresswoman said. “The IRS can’t even handle the backlog they have. Now we’re talking about huge increases to other agencies.”
Tenney went on to express her concerns over the economic numbers, wondering whether the country was on its way towards a depression.
“What if we have three quarters in a row of contraction?” she asked. “We may be actually in a depression.”
The GOP congresswoman pointed to her own state, New York, as the “perfect incubator for what not to do.”
Everything in the deep-blue state, including high taxes, excessive regulations, and high corporatism — meaning a high corporate welfare rate — are the wrong steps to take to create a successful economy, said Tenney.
“That means a high corporate welfare rate, four times more than any other state,” the New York Republican said. “And yet we have mass out-migration of people. You see this lack of dynamism in the community and consolidation of small businesses becoming big, which is what hurts our economy.”