Joe Biden humiliated America on the global stage and the American economy fell into a recession.
Yet somehow, Democrats found a way to make things even worse.
And Chuck Schumer crossed an unthinkable line and you won’t believe what happens next.
Senator Krysten Sinema (D-AZ) finally agreed to hundreds of billions of dollars in tax increases and Green New Deal spending.
“We have agreed to remove the carried interest tax provision, protect advanced manufacturing, and boost our clean energy economy in the Senate’s budget reconciliation legislation,” Senator Sinema’s statement read. “Subject to the Parliamentarian’s review, I’ll move forward.”
Senate Majority Leader Chuck Schumer (D-NY) then took a victory lap after lining up the votes to pass the centerpiece of President Joe Biden’s socialist agenda.
“I am pleased to report that we have reached an agreement on the Inflation Reduction Act that I believe will receive the support of the entire Senate Democratic conference,” Schumer added. “The final version of the Reconciliation bill, to be introduced on Saturday, will reflect this work and put us one step closer to enacting this historic legislation into law.”
America is now in a recession due to President Biden’s inflationary socialist spending.
Yet, this bill imposes $739 billion in job-killing tax increases and over $400 billion dollars in Green New Deal spending.
This legislation will raise taxes on every income group and break Biden’s pledge to not raise taxes on anyone making less than $400,000 per year.
A study by the Wharton School of Finance showed the bill will raise inflation in the short term while ten years from now cutting the equivalent of one week’s worth of inflation ten years down the road.
And even the attempt to get inflation under control is a gimmick that will likely never come to fruition.
The legislation supposedly contains $300 billion in deficit reduction.
But Democrats punted those spending cuts to 2026.
And history has proven that future Congresses will never adhere to past deals on spending cuts, and will simply increase spending when given the chance.
This bill is an inflationary, tax hiking, economy-wrecking time bomb aimed at the American economy in the worst way possible.
The only reason to pass such a bill in the middle of a recession is if you want to destroy America and turn it into a socialist nation.
Stay tuned to Conservative Underground News for any updates to this ongoing story.