FOR MY GRANDCHILDREN BECAUSE OF
WHAT WE DID TODAY.
JACKIE: VICE PRESIDENT KAMALA
HARRIS PLACED THE TIE-BREAKING
VOTE.
JOINING US NOW TO DIG INTO THIS,
WELCOME CONGRESSMAN DAN MEUSER
FROM HOUSE SMALL BUSINESS
COMMITTEE, ALONG WITH FORMER CBO
DIRECTOR DOUG HOLTZ-EAKIN.
CONGRESSMAN, I WANT TO START
WITH YOU, THE PRESIDENT SAID
WHEN AMERICANS START TO SIT DOWN
AT THE KITCHEN TABLE WHEN THEY
FIGURE THINGS OUT AT THE END OF
THE MONTH THINGS WILL BE BETTER.
EVEN BERNIE SANDERS ACKNOWLEDGES
THAT THE MODELS OUT THERE, THE
PENN WHARTON MODEL, INFLATION
WILL GO UP THE NEXT TWO YEARS.
AMERICANS ARE SUFFERING AS IT IS
WITH INFLATION AT 40-YEAR HIGH.
HOW CAN THE PRESIDENT WILLFULLY
TELL AN UNTRUTH TO THE AMERICAN
PEOPLE?
>> IT IS PRETTY UNBELIEVABLE.
THIS BILL ACE TERRIBLE SHAME AND
UNUSUAL TO BE AGREEING WITH
BERNIE SANDERS OF COURSE.
I MEAN THIS IS AN ENORMOUS POWER
GRAB BY THE FEDERAL GOVERNMENT.
IT IS IN FACT FILLING THE
LEFT’S, WOKE AGENDA COVERS
BECAUSE THEY FRANKLY KNOW
THEY’RE GOING TO LOSE IN
NOVEMBER AND THEY WILL STILL
HAVE MONEY TO SPEND, JACKIE.
AND YOUR QUESTION IS A VERY GOOD
ONE, WHO DOES IT HELP,
MR. PRESIDENT?
I WOULD REALLY LIKE TO KNOW,
BECAUSE ALL THIS BILL DOES IS
SPENDS ON GREEN ENERGIES SO IT
WILL HELP THEIR FRIENDS IN THE,
IN THOSE INDUSTRIES AN HELP
THOSE WHO PUT THE GREEN NEW DEAL
AS THEIR MOST IMPORTANT ISSUE.
IT WILL BUILD TO HELP BUILD WIND
TURBINES WHICH DON’T STAND ON
THEIR OWN IF IT WERE NOT FOR
SUBSIDIES.
IT INCREASES THE SIZE OF THE
IRS.
HOW DOES THAT HELP ANYBODY,
MR. PRESIDENT?
IT DOUBLES THE SIZE OF THE IRS
AT A COST OF $80 BILLION.
AND ON TOP OF THAT TAXES WHICH
CERTAINLY WILL GET PASSED ALONG.
THIS IS A BIG GOVERNMENT
SOCIALISM VERSUS FREE-MARKET
CAPITALISM AND UNFORTUNATELY BIG
GOVERNMENT SOCIALISM IS WINNING
RIGHT NOW.
JACKIE: THE WAY I SEE IT, THE
AVERAGE AMERICAN WILL SUFFER AS
A RESULT OF THIS AT LEAST IN THE
SHORT-TERM.
I THINK MODELS ARE LOOKING AT IT
CORRECTLY.
THE EXPANSION OF THE IRS THE
CONGRESSMAN POINTS AT, SEEMS
LIKE OUR LEADERSHIP IS
ESSENTIALLY LOOKING AT THE
AVERAGE AMERICAN AS A PIGGYBANK
TO TAP INTO TO PAY FOR ITS
CLIMATE AGENDA, TO PAY FOR MORE
HEALTH CARE, FOR PEOPLE WHO
ACROSS THE BOARD.
PEOPLE ARE GETTING FED UP WITH
IT.
AS A MATTER OF FACT IT IS
SHOWING IN THE POLLING NUMBERS.
WHEN IT COMES TO PRESIDENT BIDEN
AND HIS JOB ON THE ECONOMY, 29%
ONLY APPROVE HOW HE IS HANDLING
INFLATION.
37% APPROVE HOW HE IS HANDLING
THE ECONOMY.
69% SAY THE ECONOMY IS GETTING
WORSE.
YOUR THOUGHTS?
>> WELL, THE AVERAGE AMERICAN
WILL BEAR A LOT OF THE BURDEN OF
THIS PARTICULAR BILL, THERE IS
KNOW QUESTION ABOUT IT.
ON THE INFLATION FRONT THIS WILL
PUSH INFLATION UP, NOT DOWN.
I REMIND YOU, JACKIE, LISTENERS,
WHILE EVERYONE IS FOCUSED ON THE
IRA CONGRESS PASSED A
300 BILLION-DOLLAR SCIENCE PLUS
CHIPS BILL, 600 VETERANS BILL,
TRILLION DOLLARS IN VETERANS
SPENDING.
CONGRESS IS UP TO THE USUAL
THINGS, SPEND NOW, WORRY ABOUT
LATER.
IF THE INFLATION PUSH WILL BE
VERY REAL.
JACKIE: YEAH.
>> TAX INCREASES EVERYONE SAYS
CORPORATE INCOME TAX, DOESN’T
AFFECT INDIVIDUALS.
NON-PARTISAN JOINT COMMITTEE ON
TAXATION TOOK A LOOK HALF OF
THAT WILL BE BORNE BY
INDIVIDUALS WHO MAKE LIST THAN
$400,000.
EAT EFFECTIVE STANDARD OF LIVE
SOMETHING GOING DOWN FROM
TAXINGS GOING DOWN FROM
INFLATION THAT IS REAL PAIN FOR
THE AVERAGE AMERICAN.
JACKIE: WHEN IT CAME TO THIS
BILL JOE MANCHIN FLIP-FLOPPED.
FIRST HE SAID HE WOULD NOT VOTE
FOR ANYTHING THAT WOULD
ENCOURAGE INFLATION,
CONGRESSMAN.
IT WAS UP THEN TO KRYSTEN
SINEMA.
WHAT I FOUND INTERESTING THAT
KRYSTEN SINEMA FOCUSED ON THE
CARRIED INTEREST LOOPHOLE.
SHE DID NOT WANT TO CLOSE IT.
THAT WAS IN THE BILL.
THEY TOOK THAT OUT?
PROTECT HOG?
PROTECTING HEDGE FUNDS, HIGH
INCOME EARNERS THAT TAKE
ADVANTAGE OF THAT.
I FIND THAT STAGGERING THAT IS
WHAT SHE FOCUSED ON TO MAKE SURE
SHE KEEPS HER HIGH EARNING
DONORS ON BOARD VERSUS LOOKING
AT THE AVERAGE AMERICAN HERE.
HAVING SAID THAT WHEN IT COMES
TO SINEMA, JOE MANCHIN, FORMER
PRESIDENT DONALD TRUMP VOWING TO
CAMPAIGN AGAINST BOTH OF THEM,
MANCHIN SPECIFICALLY THIS
WEEKEND.
WATCH THE SOUND BITE.
>> JOE MANCHIN HAS TOTALLY SOLD
WEST VIRGINIA OUT.
WHAT HE HAS DONE TO
WEST VIRGINIA I DON’T BELIEVE, I
DON’T BELIEVE THEY’RE GOING TO
STAND FOR IT.
I WILL GO DOWN AND CAMPAIGN
AGAINST HIM AS HARD AS ANYBODY
CAN.
JACKIE: SAY WHAT YOU WANT TO SAY
ABOUT PRESIDENT TRUMP, BUT,
CONGRESSMAN, EVERYBODY SAID THIS
WAS THE LAST NAIL IN COFFIN, A
RED WAVE IS COMING AND CONGRESS
WILL TURN OVER IN NOVEMBER, YOUR
THOUGHTS?
>> YOU KNOW IT IS AND THERE IS
NOT GOING TO BE ANY POSITIVE
EFFECTS FROM THIS.
SO THE AMERICAN PEOPLE ARE GOING
TO SEE THAT YET AT THE SAME
TIME, WE HAVE A MASSIVE, TRAGIC
NEW LEVEL OF SPENDING AFTER
SPENDING TRILLIONS TO GET OUT OF
COVID.
THEN BIDEN FOLKS COME IN WITH
THE RESCUE PLAN WHICH
ACCELERATED INFLATION AND
THEY’RE PUTTING FUEL ON THE FIRE
BECAUSE THIS IS WHAT GOT US
THERE.
NOW THEY’RE ADDING TAXES TO IT.
SO WE’RE ARTIFICIALLY INCREASING
DEMAND AND WE ARE DIMINISHING,
PUTTING A BURDEN ON DOMESTIC
PRODUCTION.
SO SUPPLY WILL GO DOWN, DEMAND
WILL GO UP, INFLATION WILL
INCREASE.
JACKIE: SPEAKING OF THE SUPPLY
DEMAND MODEL SPECIFICALLY WHEN
IT COMES TO ENERGY, DOUG, I WANT
TO FINISH UP WITH YOU BECAUSE
THERE ARE ECONOMISTS OUT THERE
ESSENTIALLY SAYING, WARNING, IF
YOU WILL THAT THE INFLATION
REDUCTION ACT IS NOTHING BUT
DECEPTIVE MARKETING THIS IS
COMING FROM A RESEARCH FELLOW AT
THE HERITAGE FOUNDATION SAYING
THE GREATEST EXAMPLE OF THE
DECEPTIVE MARKETING THE
DEMOCRATS NAME CHOSEN FOR THIS
PIECE OF LEGISLATION DOES
ABSOLUTELY NOTHING TO ADDRESS
THE PROBLEM OF INFLATION.
WHEN YOU LOOK THE CLIMATE CHANGE
INITIATIVES IN THIS BILL, FOR
EXAMPLE, IS THAT GOING TO HELP
US AT THE PUMP AS WE FUNNEL
MONEY OVER TO ALTERNATIVE ENERGY
RATHER THAN GET OUR DOMESTIC
SUPPLIERS TO SUPPLY MORE OIL
DOMESTICALLY SO PRICES COME
DOWN?
NO.
ECONOMISTS ARE SAYING GAS PRICES
STAY AS HIGH AS THEY ARE OR GO
HIGHER FROM HERE.
>> CERTAINLY THOSE PROVISIONS
ARE NOT INTENDED TO HELP WITH
GASOLINE PRICES, OIL PRICES IN
GENERAL.
THEY ARE SUPPOSED TO ACCELERATE
THE USE OF ALTERNATIVE FUELS AND
HAVE CLEANER CARS.
THE PROBLEM HERE EVEN THOSE
CLIMATE INCENTIVES WERE BADLY
DISTORTED BY THE WHITE HOUSE’S
PRO-UNION OBJECTIVES.
YOU GET THESE EXTRA BONUS POINTS
FOR USING UNION LABOR THAT
UNDERCUT THE ABILITY TO HAVE AN
EFFICIENT RENEWABLE POWER
SYSTEM.
THAT IS NOT DESIRABLE AT ALL.
ENTIRE STRATEGY SUN LIKELY TO
WORK.
NOW WE’RE SINKING HUNDREDS OF
BILLIONS OF DOLLARS INTO A
STRATEGY THAT WOULD NOT DELIVER
GENUINE CLIMATE BENEFITS.
THAT IS AN ENORMOUS PROBLEM.
THIS IS THE ISSUE THAT THE
PRESIDENT SAID WAS HIS TOP
PRIORITY.
HE CONTINUALLY LETS IT GET
UNDERCUT BY OTHER THINGS.
JACKIE: GENTLEMAN, WE’LL HAVE TO