Rep. Sara Jacobs insists Inflation Reduction Act only raises taxes on the extremely wealthy -

8/12/2022 2:00:00 AM

Democrat @SaraJacobs campaigned on raising taxes, and will be voting in support of the Inflation Reduction Act. She said her family is wealthy, so they can pay more taxes. The bill hires 87,000 new IRS Agents, to make sure you pay yours. Full Interview:

Democrat SaraJacobs campaigned on raising taxes, and will be voting in support of the Inflation Reduction Act. She said her family is wealthy, so they can pay more taxes. The bill hires 87,000 new IRS Agents, to make sure you pay yours. Full Interview:

SAN DIEGO (KUSI) – The United States Senate passed the s0-called Inflation Reduction Act, with a tie breaking vote from Vice President Kamala Harris. The House is set to vote and pass the legislation Friday, sending it to President Biden’s desk, who will sign it into law. Democrat Congresswoman Sara Jacobs joined KUSI’s Jason Austell to discuss the bill, and...

SAN DIEGO (KUSI) – The United States Senate passed the s0-called Inflation Reduction Act, with a tie breaking vote from Vice President Kamala Harris.The House is set to vote and pass the legislation Friday, sending it to President Biden’s desk, who will sign it into law.

Democrat Congresswoman Sara Jacobs joined KUSI’s Jason Austell to discuss the bill, and share details about why she is voting in favor it, and respond to reaction from those opposed.The legislation is filled with new climate provisions, as the Democrats believe climate change is an “existential threat” to America, and the world.

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sarajacobs Do you say “Republican” ________ when you bring on your commentators? sarajacobs Here’s the thing that nobody talks about. The Democrats yes want to raise taxes on the upper class, however, there is absolutely zero talk or legislation to lower the taxes on the middle and working class. So it’s not about paying their fair share, they aren’t giving us a break.

sarajacobs VoteHerOut TrustFundBaby InflationReductionAct VoteNo sarajacobs Sad sarajacobs Our best and brightest! Not! sarajacobs sarajacobs You tagged the wrong Sara fyi sarajacobs Keep voting the Dam Democrats sarajacobs She said her family should pay more in taxes. No one is stopping her family from paying more in taxes. The IRS will accept more than you owe. She’s a hypocrite. She’s a rich climate criminal who flys around on private jets.

sarajacobs are there even 50 nobel prize winners alive today in economics?

Inflation Reduction Act 'a mess' after billionaire tax hike was removed, AOC's constituents sound offRep. Alexandria Ocasio-Cortez's constituents weighed in on how the Inflation Reduction Act kept the carried interest loophole, but addressed climate change. I’m not sure that guy is AOC’s target constituency

Ro Khanna is taking a victory lapKhanna spoke to SFGATE about the Inflation Reduction Act, his recent defense of Nancy Pelosi's trip to Taiwan and more. Khanna Licking the boot.

IRA Puts Economic Muscle Behind Search For Sustainable Aviation FuelThe Inflation Reduction Act contains major new incentives for the sustainable aviation fuel research and development. Green hydrogen would be cool. interesting twelve_co2

Understanding The New Federal Tax Credit For Electric Cars — It's ComplicatedThe federal tax incentives for electric cars in the Inflation Reduction Act will benefit many, but impose significant new restrictions. Year wait on a Tesla before the new credits. Should have put the $$$ into the grid

'A Lot Better Than Build Back Better': Big Business Relieved as Dems Go Light on Tax HikesOne progressive tax expert said the Inflation Reduction Act \u0022cannot be the final chapter in the fight against profit-shifting and offshoring practices by large corporations.\u0022

How the EV Tax Credits in Democrats' Climate Bill Could Hurt Electric Vehicle SalesProposed tax credits of up to $7,500 for EVs under the Inflation Reduction Act could be counterintuitive for sales of EVs, according to several companies.

KUSI Newsroom SAN DIEGO (KUSI) – The United States Senate passed the s0-called Inflation Reduction Act, with a tie breaking vote from Vice President Kamala Harris.AS INFLATION REDUCTION ACT MOVES THROUGH CONGRESS, AMERICANS WEIGH IN ON IMPORTANCE OF CLIMATE INITIATIVES Tom, one of Rep.highly scrutinized trip to Taiwan, and more.By Published 8 seconds ago There’s a lot yet to unpack in the 700+ page Inflation Reduction Act of 2022.

The House is set to vote and pass the legislation Friday, sending it to President Biden’s desk, who will sign it into law. Democrat Congresswoman Sara Jacobs joined KUSI’s Jason Austell to discuss the bill, and share details about why she is voting in favor it, and respond to reaction from those opposed. "The whole bill is a mess," one man, Tom, told Fox News. The legislation is filled with new climate provisions, as the Democrats believe climate change is an “existential threat” to America, and the world. Can you pinpoint one moment in this process you'd call a turning point where it became clear there was going to be a deal? Khanna: I’ve been talking to him for almost a year. Republicans are adamant the “Inflation Reduction Act” will not actually reduce inflation, and Rep."  "There are things in the tax code that allow people to write off various things, so, what are you what are you going to do?" he said. Sara Jacobs even said that President Biden is correct when he said there is zero inflation. If the world was serious about addressing global warming, all airplanes would be grounded tomorrow.

KUSI’s Jason Austell then asked why we need an Inflation Reduction Act if we have zero inflation, and why she supports a bill that increases taxes on Americans in the middle of a recession. As it stands, carried interest – a share of an investment fund's profits paid to executives – has a lower tax rate than other workers may see. I was part of his bipartisan talks with Republican senators, and once those fell apart I was concerned. Jacobs clarified that “inflation for the month of July is at zero, we still know families are struggling with the cost of things.” She then denied the bill raises taxes on low-income Americans, and insisted “this bill has no new taxes on any making under $400,000. Daniel, another resident in AOC's district, discusses carried interest. So all of the taxes that are in this bill are for really wealthy individuals and big corporations to make sure they are actually paying into the system they are benefitting from. I think it really meant something to Manchin when I told him,"If you put up something big on climate, House progressives will get behind it.” She said over time, the bill will bring down the cost of living and energy, but KUSI’s Jason Austell pointed out that Americans are hurting right now, many of them aren’t able to wait a long period of time for the relief. He added that politicians already"failed humanity" with their inaction on climate change over the past two decades. The Inflation Reduction Act includes two key provisions that could dramatically increase the nation’s SAF supply, according to Canary Media .

Austell then asked the same question, asserting that a number of economists have said this legislation raises taxes on Americans, even those making as little as $40,000 per year, but Jacobs again denied. “We must be talking to different economists, because all of the economists I’ve talked to, which I believe is over 50 Nobel prize winning economists, have all said this is not going to raise taxes on middle class families or on anyone making under $400,000, and it will have a significant impact on inflation. Sen. I'll say that when Chuck Schumer puts his mind to something, it usually gets done.” Back in April 2021, Jacobs tweeted her wish for the government to, “Tax Me More.” With the Inflation Reduction Act, it appears her wish came true. Elizabeth Warren of Massachusetts, both liberals with a history of voted for the Inflation Reduction Act. Tax 👏🏼 me 👏🏼 more 👏🏼 April 29, 2021 The Inflation Reduction Act allows the federal government to hire 87,000 new IRS agents, as Republicans warn these new employees will be used to make sure low-income Americans are paying their fair share. Explain briefly, for someone who is not a policy wonk and just now tuning in, the one or two items you think are the most groundbreaking, and then one to two items that are not in the bill you think are the highest priority for you going forward. Second, the new law provides nearly $300 million in research and development grants to fund initiatives that make, transport, blend, or store SAF, as well as projects to develop fuel efficient aircraft or otherwise reduce emissions from flying.

But Democrats, including Jacobs, say the agents will be used to enforce tax laws on the super wealthy. Zion, a New Yorker, says he's lost faith in government. Austell brought up a tweet from Republican Dan Crenshaw, who described the two governing philosophies between Republicans and Democrats in Congress. Jacobs said she would love to work with Crenshaw to simplify the tax code, but again insisted the new IRS agents and legislation will not be used to target low-income Americans or middle class families."If there are places where you have to compromise in order to get change done efficiently and quickly, I think it's just something that we have to take on right now. So tax credits for solar, wind, nuclear that will last over 10 years. “The tax code is too complicated and difficult to enforce.” Republicans: simplify the tax code.  "It's always going to be for the betterment and the protection of people who are at a higher social and economic status than people like myself and people that reside in this area," he said. Commercial planes and business jets account for roughly 3% of total US greenhouse gas emissions, a share that’s on track to increase significantly as people begin to travel more following the Covid pandemic.

Democrats: hire 87,000 agents to catch middle class Americans when they make a mistake. We're nowhere near what China is doing in manufacturing, they make 70% of world’s solar panels. That’s the difference in governing philosophy. Follow Teny on Twitter at @tenysahakian. Vote accordingly. — Dan Crenshaw (@DanCrenshawTX) . It's maybe 20% of what we need to do.