CBO: IRA Hikes Middle-Class Taxes by $20 Billion

August 16, 2022

The New York Post reports “[a]n analysis by the CBO estimates those earning less than $400,000 — the group on which Biden promised not to raise taxes — will pay an estimated $20 billion more in taxes over the next decade as a result of the Democrat-pushed $740 billion package, which also sets aside $80 billion to hire 87,000 IRS agents.”

NRCC Comment: “Every single House Democrat will need to explain to their constituents why they voted for a $20 billion middle-class tax hike in the middle of an inflation crisis.” – NRCC Spokesman Mike Berg