Smith critiques Democrats’ “jarring” celebration of disastrous “Inflation Reduction Act”

I doubt most Americans could tell you what the “Inflation Reduction Act” is, what it does, or who it belongs to, Save Jerseyans, but in state capitals and social media spaces across the country this week, Democrats are celebrating the one-year anniversary of its passage as if it was the Civil Rights Act. It’s strange.

It’s also understandable given how little else Democrats have to hang their hats on right now heading into another federal cycle except, of course, for Donald Trump’s rapidly multiplying legal struggles.

Rep. Chris Smith (R, NJ-04) agrees that it’s all a bit too far-fetched.

“As Americans continue to battle high prices, Democrats are boasting about today’s one-year anniversary of President Biden’s egregious tax and spending spree that was insultingly named the ‘Inflation Reduction Act,’” said Smith. “Their jarring celebration of this tax-and-spend legislation—which I strongly opposed and voted against—comes just two weeks after one of the major US rating agencies downgraded the US government’s top credit rating, citing the nation’s high and growing debt burden as a key factor.”

Persistent inflation and other fiscal woes are naturally only the beginning of the problems with the Act.

“Among its many egregious provisions, the Inflation Reduction Act is responsible for funneling massive taxpayer subsidies to prop up foreign offshore wind corporation Orsted and other companies that are rushing to industrialize our ocean without a comprehensive analysis of the potentially devastating impacts to the marine environment, fishing industry, navigational safety, military operations and local economy,” Smith continued.

“In June, I voted for the Fiscal Responsibility Act to help put a tourniquet on the Biden Administration’s out-of-control spending policies that show absolutely no regard for our children and grandchildren who will be forced to pay a huge price for today’s profligate government spending and the borrowing needed to sustain it,” added Smith. “I will continue to press for meaningful measures in Congress to get our country back on a better path toward greater fiscal responsibility and rein in wasteful government spending that has contributed to crushing costs.”

Smith critiques Democrats’ “jarring” celebration of disastrous “Inflation Reduction Act” (