GOP Rep. Donalds: We Knew Dems Were Lying About ‘Inflation Reduction Act’ and Now It’s Confirmed It’ll Cost Three Times Estimate

On Tuesday’s broadcast of the Fox Business Network’s “Kudlow,” Rep. Byron Donalds (R-FL) stated that Goldman Sachs’ estimate that the climate provisions in the “Inflation Reduction Act” will cost three times what they were initially estimated proves that Democrats were lying when they called “the Green New Deal’s little brother” the “Inflation Reduction Act.” And pointed out many Democrats wanted to spend more in the bill.

Host Larry Kudlow asked, “[O]ne of the Wall Street firms re-priced it. It’s not costing three — or $400 billion, it’s costing $1.2 trillion, which is more inflation for a climate bill that was supposed to be an inflation reduction bill. How utterly stupid is that?”

Donalds responded, “Listen, Larry, we knew it when they were moving it through the House. We kept telling the media, stop calling it this silly name that the Democrats gave it, because they are lying to you. That bill was the Green New Deal’s little brother. That’s what that bill really was. The radical Democrats wanted more, they wanted more stuff, if you can believe that. But the subsidies in that bill are going to be far more expensive, the tax increases on oil production [are] going to be far more onerous and Americans are the ones who suffer. And look, it’s poor Americans, white, black, Hispanic, it is middle-income Americans, Republican, Independent, Democrat, they are the ones who suffer under this nutty policy. And so, we have to actually reverse course in this country. It makes no sense.”

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