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Congressman Bill Posey (R-Rockledge) released the following statement regarding his opposition to the so-called "Inflation Reduction Act:"

"Washington should pursue policies that tackle rising energy and food prices, fix our broken supply chain, create jobs, spur investment in American businesses and secure our border. This legislation moves our nation in the opposite direction, spending hundreds of billions of dollars, on top of the trillions of reckless spending Congress has already authorized, to further a radical agenda which is bankrupting our families and destroying economic opportunity across country.

"The nonpartisan Congressional Budget Office (CBO) says the bill does little to reduce inflation.  Congressional leaders removed the tax provisions targeting wealthy wall street traders, while flooding the IRS with the cash to hire 87,000 armed enforcement agents and greenlighting other tax increases that will harm lower-and middle-income families and small businesses.  Washington always protects their friends and squeezes the average American.

"Finally, the legislation’s goal of decarbonizing by 40 percent over the next seven years will result in higher energy bills, more supply chain disruptions, less opportunity for our families and children while making us more dependent on foreign energy and subject to disruptions."