Massive $750 Billion Tax and Spending Bill Passes, Cheney Votes Against

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By Clair McFarland, Cowboy State Daily
[email protected]

The so-called “Inflation Reduction Act” was approved by the US House of Representatives on Friday and is heading to the office of President Joe Biden.

All Republicans in the US House of Representatives, including US Representative from Wyoming Liz Cheney, voted against the $750 billion spending bill. It includes sweeping tax reforms on the energy industry, a 15% corporate tax for big business, and adds about 87,000 new officers to the Internal Revenue Service.

Cheney told the Cowboy State Daily that she opposes the bill because it will hurt Wyoming and the nation.

“Today’s legislation was not a good bill for Wyoming or our nation,” Cheney said through text from his spokesperson. “Reckless spending and tax hikes will hurt our economy. On top of that, the provisions of the legislation attack our fossil fuel industry, which will have negative consequences for both energy producers and consumers.

“Instead of pushing through legislation fully supported by one side and opposed by the other, Congress should work to build a bipartisan consensus that provides serious and responsible solutions for the nation.”

Wyoming delegates to the U.S. Senate, Republican Senators John Barrasso and Cynthia Lummis, also opposed the bill last weekend.

Money for offices

In addition to strengthening the IRS and imposing corporate tax hikes, the law also:
— Requires drugmakers to provide rebates to the Centers for Medicare and Medicaid Services for certain drugs that cost more than $100 per year, and provides funds to CMS to negotiate drug costs;
— Extends features of the Affordable Care Act to 2025;
— extends and creates tax credits for renewable energy suppliers and for those who invest in such projects;
— Increase the permanent tax rates on the coal industry;
— Stimulates the market for “clean commercial vehicles” and “plug-in electric vehicles”
— Grants funds to the United States Department of Agriculture for “a variety of programs,” including carbon sequestration and forest restoration projects;
— Provides funding to the Department of Housing and Urban Development (HUD) for “climate change issues” and affordable housing;
— Provides funding to the Department of Energy for homeowner green energy rebates and other projects;
– Donates money to the National Park Service, Bureau of Land Management and many other offices for green energy reforms;
– Provides funding to the Department of Homeland Security, US Postal Service, and Federal Emergency Management Agency for low-carbon building materials, low-emission delivery vehicles, and other “environmental programs.”
– Gives funding to the Bureau of Indian Affairs for “a tribal electrification program”.

Republican lawmakers have spoken out against the bill, but a prominent Wyoming conservationist told the Cowboy State Daily on Thursday it’s an encouraging push in moving away from fossil fuels.

Connie Wilbert, director of the Wyoming chapter of the Sierra Club, said climate change “affects us right here in Wyoming, just as it affects everyone else.”

Wilbert said the nation and Wyoming cannot move away from fossil fuels fast enough, given that the environmental impacts of burning fuels are already impacting the region.

“(We) have a short window of time…to take enough action to prevent irreversible and devastating climate change,” she said. “And those words scare me.”

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