On Monday’s broadcast of NBC’s “MTP Daily,” guest host, MSNBC host, and MSNBC Senior National Correspondent Chris Jansing stated that the Inflation Reduction Act reconciliation bill “does raise taxes in a period of economic downturn.”
While interviewing Rep. Steven Horsford (D-NV), Jansing said, “So, let’s talk taxes because the one thing you don’t want to do on the campaign trail is defend higher taxes. And while these are targeted to corporations and top earners, this bill does raise taxes in a period of economic downturn. Republicans are already trying to take advantage of that. What do you say to folks who say any tax increase right now, when the ‘recession’ word is still out there, is a mistake?”
Horsford responded, “The only people talking about raising taxes on families, on working — hardworking Americans are Republicans who have advanced a written agenda to do just that, including to defund Social Security and to roll back benefits under Medicare. So, as you rightfully noted, this bill targets 150 corporations with income of $1 billion or more that are not paying their fair share and it’s about closing tax loopholes so that they can actually contribute to the needs of our country at a critical moment so that we reduce costs on consumers and make those who are not contributing now pay their share by closing those tax loopholes.”
Follow Ian Hanchett on Twitter @IanHanchett