FACT CHECK for Republicans: Inflation Reduction Act Will Lower Costs

As Senate GOP Leader Mitch McConnell holds his weekly press conference today, where he’ll likely spread false information about the Inflation Reduction Act, we wanted to make sure he didn’t get away with his desperate spin.

This historic legislation will tackle inflation, lower costs, and reduce the national deficit while making sure that middle-class families don’t pay a penny more in taxes

New York Magazine: “Republicans Say Biden’s Plan Taxes the Middle Class. That’s False.”

Don’t just take it from us — 126 economists, including Nobel laureates, signed a letter writing that the Inflation Reduction Act will help bring down costs for American families.

CNN: “‘This historic legislation… will fight inflation and lower costs for American families while setting the stage for strong, stable, and broadly-shared long-term economic growth,’ 126 economists said in a letter sent to congressional leadership.”

Outside analyses show that the Inflation Reduction Act is a fiscally responsible piece of legislation that will actually reduce government spending in the long-term and bring down the federal deficit. 

New York Times: “Analysis Deems Biden’s Climate and Tax Bill Fiscally Responsible”

Let’s not forget: In 2017, led by none other than Mitch McConnell, MAGA Republicans in Congress gave massive government handouts to corporations and the ultra-wealthy. Make no mistake — the GOP is the party of fiscal irresponsibility.