The Inflation Reduction Act Will Hurt Working Iowans

As Iowans struggle with prices of everyday essentials rising faster than they have in the last 40 years, Democrats in Washington have advanced another gigantic spending bill paired with crippling tax hikes. Despite its misleading name, the so-called “Inflation Reduction Act” will put the United States in a considerably worse position and impose economic pain across the board. Backers of this spending proposal falsely claim this bill will cut inflation and argue the middle class will be unaffected. This is not true. The reality is that this legislation will waste billions in taxpayer dollars on special interest projects and will double the workforce of the Internal Revenue Service (IRS) to audit everyday Americans.

Now, American families and small businesses will be forced to pay even higher prices for necessities while watching their paychecks erode to finance a massive government expansion.

As President Biden signed his prize bill into law this week, Americans have a right to know what it’s going to cost them. For starters, this proposal would provide the federal government with an additional $235 billion in new federal spending over the next 5 years. Inflation is skyrocketing, and the average hard-working American has already lost more than $1,800 in purchasing power because of reckless federal spending. With the economy in recession territory, the Democrats’ solution is to flood the economy with even more inflationary spending in a misguided attempt to promote “green energy”— all while buying many of the materials necessary for these energy projects from China, the largest polluter in the world. At a time when Iowa’s economy is still recovering from the pandemic, the greatest threats to the economy are labor shortages and supply chain disruptions brought about by endless government spending, more regulation, and higher taxes.

Families and small businesses will be forced to fork over more of their hard-earned incomes from increased inflation and taxes, and they will also face the threat of invasive and expensive audits brought about by adding an astonishing 87,000 new auditors and bureaucrats to the IRS workforce. To put this into perspective, over the last 12 months, employers in Iowa added 42,100 payroll jobs to the workforce. Democrats falsely claim these IRS auditors will focus on America’s upper-class and big businesses, but just last year, 307,000 of the nearly 660,000 audits conducted by the IRS in 2021 were against Americans making under $25,000 annually.

The evidence is quite clear: This bill will tax those it claims it will not, and it will hurt low- and middle-income families, Iowa’s small businesses, and family-owned farms. The only reduction that will come about from this alleged “inflation reduction” bill will be a reduction in Americans’ ability to put affordable food on the table and provide for their families.

Americans need relief from endless wasteful spending, and we must return to the values and economic policies that are rooted in an America First approach. Policies that focus on cutting wasteful spending, lowering inflation, increasing employment, and growing our economy is the answer to Iowa’s (and America’s) inflation crisis, not the Democrats’ Big Government socialism.

Newton Town Hall

This week I was pleased to join Linda McMahon, former Administrator of the Small Business Administration, Matt Whitaker, former acting U.S. Attorney General, and Doug Hoelscher, Chief Operating Officer at the America First Policy Institute for a joint townhall in Newton, Iowa. During the town hall we were able to discuss the current state of our country's economy, its effect on Iowan workers and families, and how we plan to move forward

A Year of Betrayal

I, along with millions across the nation, remember last August when President Biden made the executive decision to withdraw American forces from Afghanistan. Originally, the Biden administration announced that the United States would be completely evacuated by September 11th, 2021, but then backtracked and unilaterally decided to expedite the process—despite any potential consequences.

As a result, our armed forces were not able to transport military equipment and ammunition, leaving nearly everything in the hands of the Taliban. The Pentagon provided a report to Congress notifying that the United States left over $7 billion in military equipment. The report also revealed that the Biden administration has no intentions of retrieving or destroying the equipment. Instead, the Taliban has been gifted with aircraft, munitions, military vehicles, weapons, and communications equipment—all funded by American tax dollars.

However, the image left in Americans’ minds when they reflect on the President’s botched withdrawal isn’t members of the Taliban walking the streets with American firearms, it’s the viral photo of a plane taking off with hundreds of people clinging to the outside. Sadly, this is a perfect representation of the Biden administration’s efforts. Americans were left behind, our Afghan allies were left behind, and a country was left in the hands of a terrorist regime.

Perhaps the most tragic result of President Biden’s withdrawal was the loss of thirteen American soldiers. Our armed forces risk their lives every single day to protect our freedoms but do so with the understanding that the American government will do everything within its means to protect them. Sadly, the Biden administration was unable to keep that promise, and thirteen men and women lost their lives to a suicide bomb. I joined people across Iowa and the country to honor their sacrifice and service to our country, and I will continue to mourn their death.

I want to do everything in my power to ensure the people of Afghanistan and the American citizens who have been abandoned by the Biden administration are safe from Taliban rule. I am proud to be a cosponsor of the Afghan Adjustment Act, bipartisan legislation to expedite enhanced screening of those Afghans who were evacuated to the United States last August. Many have been living in limbo, and it is critically important that we know that each evacuee has been properly vetted.

DC Staff in Iowa

I always welcome and encourage people from across the country to visit the great state of Iowa. This week I was fortunate to welcome my Washington D.C. team to Iowa. While they were here, they toured Iowa Ammunitions Plant, Kinnick Stadium, and the Army Corps of Engineers at Lake Red Rock.

It is always great to meet with Iowans as I travel across the second district! It truly is my favorite part of serving in Congress. Speaking to Iowans allows me to stay informed about what is happening in their communities and what I can do to help!

I enjoyed stopping by Google's tent at the Iowa State Fair to learn more about their footprint in the state. Google just announced a $250,000 grant to the Iowa Nutrient Research and Education Council to support the council's work in educating farmers about nutrient management.

I also had the opportunity to tour Legacy Plaza in Newton. This plaza is being transformed into a hot spot for local businesses such as a pub, yoga studio, and brewery. Once construction is complete Legacy Plaza will feature apartments and a boutique hotel for those who visit Newton.