Tom Cole Unhappy With Biden’s Inflation Reduction Act

Oklahoma Congressman Tom Cole unleashed a tirade against President Biden and his stalled attempts to correct the economy on Monday.

Cole railed on President Biden’s inability to reel in skyrocketing prices as wages have shrunk, damaging not only the U.S. supply chain including the labor force. These factors led to a decline in Gross Domestic Product during the first and second quarters of 2022, which constitutes a recession.

Although Democrats introduced and passed its Inflation Reduction Act in the Senate, the bill will do the exact opposite of its namesake. With a price tag of $728 billion, it would make inflation much worse. Higher taxes would be imposed on manufacturers and businesses during a recession and passed through to buyers in the form of higher prices and smaller paychecks for employees.

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