Lindsey Graham, Tim Scott vote against Inflation Reduction Act

Aug. 8—South Carolina's two U.S. senators joined their 48 Republican colleagues to vote against the Inflation Reduction Act Sunday.

Sens. Lindsey Graham and Tim Scott, both Republicans, voted against the bill proposed by Senate Majority Leader Chuck Schumer, D-New York, and Joe Manchin, D-West Virginia.

Graham said every problem that the United States has will get worse because of the bill. He said the bill was another massive tax and spend bill that will be a disaster for a weak economy and make the lives of suffering Americans worse.

"My Democratic colleagues who are assuring you this bill will help you are the same people who said that in 2021," Graham continued. "The American Rescue Plan — a $1.9 trillion tax and spend proposal passed in 2021 — was disaster for the American people. At the time of its passage, inflation was 2.6%. It is now 9.1%. And it's no accident that the American Rescue Plan caused this problem. Republicans warned Democrats in 2021 that if you pass the massive tax and spend bill called the American Rescue Plan, you will not rescue America. You will create a recession. Unfortunately, we were right then and we are right now."

He also said he hopes the American people will realize that no matter how well-meaning Democrats may be, they are turning the economy upside down and increasing taxes all in the name of climate change.

Graham said Democrats were failing to address the broken border, had become captive to liberal special interests, that Democrats were imposing a new gas tax when American's can't afford it, that the bill won't reduce inflation according to the Congressional Budget Office and the University of Pennsylvania's Wharton School of Business, that the bill will dis-incentivize investment in factories and equipment because of tax changes made in the bill and that Democrats had used bait and switch tactics to pass the bill.

Graham also appeared to take a shot at Manchin, the moderate Democrat who refused to follow the majority of his party and vote for several spending plans during this session of Congress.

"Those who claim to be moderate and conservative, when given the choice, sided with liberals," Graham said. "This will be a part of the 2022 elections and beyond."

Manchin is up for reelection in 2024.

Scott accused Democrats of trying to spend their way out of inflation caused by reckless government spending.

"Today, Democrats once again tried to spend their way out of the inflation caused — ironically — by their reckless spending," Scott said in a news release. "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. Make no mistake: this bill will increase tax burdens on generations of Americans. That's why I voted 'no' and will continue fighting against Democrats' economic plans that put the American Dream further out of reach for families across our nation."

The bill would make investments of $369 billion to combat climate change and $64 billion to extend the expanded Affordable Care Act for three more years. It also calls for a 15% corporate minimum tax, prescription drug pricing reform, more tax enforcement from the Internal Revenue Service and elimination of the carried interest loophole.

Despite Republicans' protests, all 50 Democrats voted for the bill and Vice President Kamala Harris broke the tie to send the bill to the House of Representatives for consideration possibly as early as Aug. 12.

Since the House has a Democratic majority, the bill will likely pass and go to President Joe Biden for a signature to become law.