In an interview on Fox News Channel’s “Sunday Morning Futures,” Sen. Ted Cruz (R-TX) passed the $700 billion Inflation Reduction Act, a scaled-down iteration of the Build Back Better Act.
Cruz told host Maria Bartiromo that the legislation was “terrible” and a “huge coup” by Democrats because it would raise gas prices and double the size of the Internal Revenue Service.
“Democrats are about to push through what is a truly terrible bill,” Cruz warned ahead of the bill’s passage. “This bill will put manufacturing to the test. It will destroy manufacturing jobs in this country. It will terrify small businesses. This bill will drive up gas prices. It will have billions in new taxes on US oil and gas production We’ve tabled amendments to remove those new taxes, so all Democrats say they’re concerned and want to lower gas prices — they’ve all voted to raise the gas tax and raise your price at the pump.”
“This bill creates 87,000 new IRS agents,” he continued. “It doubles the size of the IRS. Those IRS agents are designed to come after you. They are not designed to go after the billionaires and the big corporations. They are designed to go after small businesses and working families in this country. The Democrats make the IRS bigger than the Pentagon, plus the State Department, plus the FBI, plus the Border Patrol combined. The IRS is getting bigger. This is a huge power grab.”
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