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For weeks, Democrats were committed to pushing a new climate and tax bill, labeled the Inflation Reduction Act, touting the legislation with claims that it would restore the economy and bring down prices, but are silent after inflation increased for yet another month.
On Tuesday, the Department of Labor released the monthly Consumer Price Index (CPI) report that found inflation rose to 8.3% from August 2021 to this year, just weeks after the Inflation Reduction Act was signed into law by President Joe Biden. The CPI saw a 0.1% increase in the one-month period from July-August.
Fox News Digital asked several vulnerable Democrats seeking re-election in the Senate and the House of Representatives this fall when the Inflation Reduction Act will actually begin to have a positive impact on the economy and lower prices, after the Labor Department revealed inflation is only on the rise. None of the Democrats, who all voiced support for the IRA, responded to Fox News Digital’s request for comment.
US ECONOMIC FUTURE LOOKS ‘MESSY’ AFTER AUGUST INFLATION REPORT HOTTER THAN EXPECTED
From left to right: Democratic Reps. Henry Cuellar of Texas, Cindy Axne of Iowa, Tom O’Halleran of Arizona, and Marcy Kaptur of Ohio.
(Kevin Dietsch, Zach Gibson, Angelo Merendino, Tom Williams/CQ Roll Call via Getty Images )
The Democrat Members of Congress who did not respond include: Rep. Tom O’Halleran, D-Ariz.; Rep. Cindy Axne, D-Iowa; Rep. Sharice Davids, D-Kan.; Rep. Jared Golden, D-Maine; Rep. Dan Kildee, D-Mich.; Rep. Angie Craig, D-Minn.; Rep. Annie Kuster, D-N.H.; Rep. Tom Malinowski, D-N.J.; Rep. Chris Pappas, D-N.H.; Rep. Dina Titus, D-Nev.; Rep. Susie Lee, D-Nev.; Rep. Steve Horsford, D-Nev.; Rep. Marcy Kaptur, D-Ohio; Rep. Tim Ryan, D-Ohio., Rep. Matt Cartwright, D-Pa.; Rep. Susan Wild, D-Pa.; Rep. Elaine Luria, D-Va.; Rep. Abigail Spanberger, D-Va.; Rep. Kim Schrier, D-Wash.
Meanwhile in the Senate, several politicians claimed the IRA would drive down inflation, but were unresponsive to Fox News Digital after the CPI report: Sen. Mark Kelly, D-Ariz., Sen. Catherine Cortez Masto, D-Nev., Sen. Raphael Warnock, D-Ga., Sen. Michael Bennet, D-Colo., Sen. Maggie Hassan, D-N.H., and Pennsylvania Senate candidate Lt. Gov. John Fetterman.
Sen. Joe Manchin and Senate Majority Leader Chuck Schumer agreed to the framework that became the Inflation Reduction Act.
(F. Carter Smith/Kent Nishimura)
In August, Sen. Joe Manchin, D-W.Va., and Sen. Chuck Schumer, D-N.Y., introduced the climate and tax legislation, claiming that the new bill would bring down costs.
After its announcement, the nonpartisan Joint Committee on Taxation (JCT) revealed in an analysis that Americans making less than $200,000 per year would have their taxes increased by $16.7 billion. For taxpayers earning between $200,000 and $500,000, the bill would increase taxes by $14.1 billion.
VULNERABLE HOUSE DEMOCRATS DEFEND VOTE ON INFLATION REDUCTION ACT, EXPANSION OF IRS
Following the CPI report Tuesday, instead of addressing rising costs, Democrats are directing their focusing on abortion and Sen. Lindsey Graham’s, R-S.C., new anti-abortion bill. Meanwhile, Republican candidates and representatives are flooding Twitter with their concerns over the recent CPI report and rising inflation.
President Biden was criticized for hosting a White House event celebrating the Inflation Reduction Act Tuesday, the same day the CPI report showed rising year-over-year inflation.
Biden said at the event that the Inflation Reduction Act was the “single most important legislation passed in the Congress to combat inflation and one of the most significant laws in our nation’s history,” but the stock market was tumbling at the same time due in part to the CPI news, with the Dow Jones Industrial Average marking the largest single-day drop since June 2020 when the pandemic was raging.
In June, inflation hit a 40-year-high of 9.1% year-over-year, easing slightly to 8.1% in July, but climbing again in August. The gross domestic product (GDP) dropped for a second consecutive quarter from April-June and the economy entered into a technical recession.
