On IRA Anniversary, MAGA Republicans Vow to Repeal Lower Costs, Historic Investments

On the one-year anniversary of President Biden’s Inflation Reduction Act becoming law, MAGA Republicans on the presidential campaign trail and in the halls of Congress continue to rail against the historic legislation that’s slashing costs, creating thousands of new jobs, making the largest investment in tackling the climate crisis in history and delivering for working families across the country. 

Donald Trump railed against the Inflation Reduction Act and vowed to repeal the historic legislation.

Insider: “Former President Donald Trump on Friday slammed the Democratic-led climate, health, and tax bill, arguing that Republican Senate Minority Leader Mitch McConnell of Kentucky was ‘taken for a ride’ by Sen. Joe Manchin of West Virginia.”

DeSantis said he would repeal the Inflation Reduction Act if elected president and rejected funds from the bill that could have lowered costs for Floridians.

DeSantis: “You know, the good thing is I think there’s a pretty clear path to being able to reverse a lot of this stuff. The things he’s doing through executive order, you could reverse right away. But even what they did with the Inflation Reduction Act, they passed that via budget reconciliation in the Senate. So with 50 votes, I think, you know, we win the presidency, I’m pretty sure we would win the Senate and keep the House. And so at that case, what they put in by reconciliation, you could repeal by reconciliation.”

Bloomberg: “DeSantis Says No Thanks to $377 Million in US Energy Funds”

“The funding, totaling about $377 million, included hundreds of millions of dollars for energy-efficiency rebates and electrification as part of the Inflation Reduction Act, as well as money from the bipartisan infrastructure legislation that became law in 2021.”

Tim Scott voted against the Inflation Reduction Act and said he would “eliminate” the legislation.

Scott: “‘Today, Democrats once again tried to spend their way out of the inflation caused—ironically—by their reckless spending. With inflation raging and our economy heading into a recession, Democrats still chose to spend money we don’t have on things Americans don’t need—and didn’t ask for,’ he said.” 

Scott: “The third thing I would do is I would simply eliminate the IRA, the Inflation Reduction Act, which of course is a lie from the pit of hell. … I would eliminate the vast majority, if not all, of the green energy credits. I would eliminate every single one that I could from an executive perspective. But I would also engage Congress to reverse that legislation.” 

Nikki Haley strongly opposed the Inflation Reduction Act and is campaigning on rolling back important provisions of the legislation.

Fox News: “GOP presidential candidate Nikki Haley plans on cutting down President Biden’s ‘disastrous’ energy policies as well as bringing oil production back to the United States, if she is elected to the Oval Office in 2024. Haley, who previously served as the governor of South Carolina, shared her energy plan with Fox News Digital ahead of her formal announcement in Texas on Thursday. … The GOP candidate also slammed Biden’s green energy policies, saying she would ‘roll back Biden’s wasteful green energy subsidies and regulations.’ Haley specified that a number of subsidies in the Inflation Reduction Act could cost as much as $1.2 trillion along with a number of ‘Biden administration rules and regulations that would hamstring our oil and gas industries,’ citing Biden’s power plant regulations and his crackdown on gas-powered cars.”

Vivek Ramaswamy criticized the clean energy tax credit provisions in the Inflation Reduction Act.

Bartiromo: “Good. First thing I want to ask you is about this debt ceiling vote. You said you would not vote for it.” 

Ramaswamy: “That’s right. I think that the steps are too incrementally forward. We still have a spending crisis in this country. The point of these negotiations should be to actually address the fiscal crisis, not to window dress around it. You want to take the funding for the IRS, moving it from $80 billion to $70 billion while still leaving the hit squad intact. That doesn’t really change anything. Work requirements for Medicaid recipients, the Inflation Reductions Act’s pork fest for clean energy tax credits, none of that’s really changed.”

Mike Pence railed against vital aspects of the Inflation Reduction Act, including the historic investments in climate and lowering the cost of life-saving prescription drugs. 

Pence: “In yet another policy failure of the Biden Administration, the Inflation Reduction Act just signed into law undermines incentives to create new life-saving drugs through government-imposed price caps on prescription drugs.”

Sorkin: “How do you feel about the Inflation Reduction Act?” 

Pence: “What I worry about in that bill, frankly, is massive subsidies for electric cars. I mean, 80% of the battery market in the world today is China in a very real sense as we continue through incentives and, and, and frankly through mandates that you’re seeing in places like California, is we, it’s the China Full Employment Act. And I’m all for diversification of energy. I’m an all of the above energy guy. Electric vehicles, great, love to see domestic companies, but let’s have a battery. Let’s have battery manufacturing here. Let’s do innovation here. And not further subsidizing the largest and most authoritative nation in the world.”

Asa Hutchinson was an early opponent of the Inflation Reduction Act.

KARK: “In a statement Thursday, Gov. Asa Hutchinson came out in opposition to the Inflation Reduction Act, currently under debate in the senate. The act, a significant part of the Biden presidential agenda, puts billions of dollars into energy extraction and IRS enforcement, as well as health care reforms in Medicare drug pricing and Affordable Care Act extension. Hutchinson said he was joining 21 other governors in opposition to the legislation.”

While President Biden’s Inflation Reduction Act is delivering for Americans, MAGA Republicans in Congress are hellbent on repealing the historic investments that are improving the lives of working families. 

Politico: “House Republicans’ proposal for averting a breach of the federal debt limit seeks to relitigate one of the most consequential congressional debates of last year — by taking an ax to President Joe Biden’s signature climate law. The White House’s counterargument: Gutting the law would wipe out tens of thousands of jobs that the law is creating in Republican-held states. The proposal that Speaker Kevin McCarthy unveiled Wednesday would raise the federal debt limit while repealing the host of green energy tax incentives established under Democrats’ Inflation Reduction Act. Those include the law’s new solar and wind manufacturing production tax credits.”

The Hill: “The bill targets tax credits that were included in the Democrats’ Inflation Reduction Act that aim to bolster carbon-free energy sources and combat climate change, including tax credits for electric vehicles as well as solar and wind infrastructure. McCarthy said on the House floor Wednesday that the bill’s provisions would ‘end the green giveaways that distort the market and waste taxpayers’ money.’”

The Times-Picayune: “H.R. 1 is a consolidation of about 20 different bills aimed at increasing oil and gas production. The legislation would require offshore lease sales; streamline permitting processes; incentivize building more infrastructure, such as pipelines; and roll back power of states to reject energy facilities. It would also repeal higher fees in the Inflation Reduction Actand some of the law’s other climate change initiatives. The Scalise bill also would increase state shares of the federal government’s royalties for offshore oil and gas production and wind farms.”

And let’s not forget that Senate Republicans were hellbent on getting rid of life-saving and vital provisions of the Inflation Reduction Act, including lowering the cost of prescription drugs and making sure corporations pay their fair share. 

The Hill: “Senate Republicans on Friday introduced a bill that would roll back the drug pricing reforms included in the sweeping Inflation Reduction Act, including the measures allowing Medicare to negotiate drug prices and capping annual drug expenses for many seniors.”

“The bill allows Medicare to negotiate drug prices for the first time in the program’s history. It also placed a $2,000 out-of-pocket cap on annual drug costs for seniors on Medicare, as well as a $35 monthly cop for insulin. … If passed, the bill states it would make it so that the drug pricing measures in the Inflation Reduction Act ‘had never been enacted.’”

Statement, Sen. John Barrasso: “Today, U.S. Senator John Barrasso (R-Wyo.) introduced the Repealing the Ill-Conceived and Problematic (RIP) Book Minimum Tax Act. This legislation would repeal the largest tax hike from the Democrats’ reckless tax and spending bill. … Original cosponsors of this legislation include U.S. Senators Marsha Blackburn (R-Tenn.), John Boozman (R-Ark.), Mike Braun (R-Ind.), Bill Cassidy (R-La.), Mike Crapo (R-Idaho), James Lankford (R-Okla.), Cynthia Lummis (R-Wyo.), Rob Portman (R-Ohio), Jim Risch (R-Idaho), Pat Toomey (R-Pa.), Todd Young (R-Ind.), and Roger Wicker (R-Miss.).”