Hagerty: ‘Inflation Reduction Act’ Should Be Called ‘Income Reduction Act’

Hagerty: ‘Inflation Reduction Act’ Should Be Called ‘Income Reduction Act’


During a Wednesday interview on Fox Business Network’s “Mornings with Maria,” Sen. Bill Hagerty (R-TN) voiced his opposition to Senate Majority Leader Chuck Schumer’s (D-NY) Inflation Reduction Act.

The bill, which experts have said will do little to curb inflation, includes $369 billion aimed at climate spending and has Sen. Joe Manchin’s (D-WV) support.

Hagerty disagreed with the notion that the slimmed-down version of the Build Back Better bill would not result in increased taxes. He argued the package should instead be called the “Income Reduction Act.”

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“They should call this the Income Reduction Act — not the Inflation Reduction Act,” Hagerty emphasized. “It’s absolutely going to cause prices to go up because … when you raise costs on manufacturers by increasing

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