Biden blasted for claiming Inflation Reduction Act won’t raise your taxes: ‘Not telling the truth’

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Kudlow slams ‘Inflation Reduction Act:’ This is a ‘terrible bill’

‘Kudlow’ host Larry Kudlow unpacks the ‘Inflation Reduction Act’ and discusses the consequences of the bill on Americans, U.S. economy.

Frustrated Twitter users expressed outrage at President Joe Biden’s latest tweet about his economic policy. He insisted that Democrats’ new reconciliation bill, the Inflation Reduction Act, would not raise taxes on anyone in the middle class.

His claim prompted a chorus of users accusing him of lying and pointing out exactly how the government spending bill would tax middle class Americans.

On Wednesday evening, the president defended the newly passed Inflation Reduction Act from claims that it would make life harder on the average American already suffering from 40-year high inflation in a period traditionally defined as the beginning of a recession. 

Biden tweeted, "When we pass the Inflation Reduction Act, not a single American in the middle class will pay higher taxes. It’s that simple." 

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President Biden was accused of lying by conservatives on Twitter for claiming that the Inflation Reduction Act would not raise taxes on the middle class. (Composite)

Though economists, such as Heritage Foundation research fellow EJ Antoni, have claimed that the act will "exacerbate Americans' pain from inflation while simultaneously raising taxes," Fox News Digital reported.

Antoni told Fox that the bill’s proposed "$433 billion price tag, most of which will be spent on climate provisions" will "be passed through to the consumer at all different levels, not only in the purchase of energy itself, but because energy affects everything we do and everything we buy," essentially adding a tax to "everything else."

That’s just one of the ways it can be seen raising taxes. Frustrated Twitter users blasted Biden’s tweet and mentioned other ways they think the Inflation Reduction Act will raise taxes. 

Arizona Republican state congressional candidate Christian Lamar responded to the president’s claim, tweeting, "How exactly is raising the corporate tax rate by 15% going to reduce inflation? American Corporations will pass this tax cost over to US consumers causing higher inflation. The Biden gas hike was passed on to US consumers as 40-year record high inflation."

Film producer Errol Webber replied to Biden, stating, "Congress introduced the Inflation Reduction Act, which is really just one more ploy to tax Americans and spend endlessly on nonsense. At some point we need to quit asking who needs to pay more taxes, and focus on where the heck all of this money is going! Stop the madness!"

Economists and conservatives claim that the Inflation Reduction Act will just increase the cost of everything for average Americans. 

"You're just lying through your teeth," tweeted the Washington Examiner’s Brad Polumbo, who also shared a piece from his website countering Biden’s claims. In the article, the reporter explained that the act’s "$315 billion tax on businesses" will be "borne by workers through lower wages.

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He stated, "Biden’s plan to squeeze $315 billion more out of corporations actually means squeezing hundreds of billions out of workers — at the exact time we can least afford it."

American Greatness senior fellow Ned Ryun wrote, "The Orwellian ‘Inflation Reduction Act’ is in fact going to target the middle class via the IRS and grind it into dust if we’re not careful."

U.S. Republican congressional candidate for Maryland, Chris Palombi remarked, "Just wait until his administration changes the definition of the middle class to walk around this lie..."

"Inflation already acts as a tax. This is a lie. He's trying to pass an act he claims already fights a tax increase. Nobody believes this," explained The Spectator contributing editor Stephen L. Miller.

And Real Clear Investigations deputy editor Benjamin Weingarten blasted the Biden administration, tweeting, "How do you know the president is lying? His handlers’ tweets are flying."

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President Biden took heat from Twitter users who argued that the government's newly passed spending bill would raise taxes on the middle class. (AP Newsroom)