Marshall and Moran vote against Democrats’ economic legislation after marathon debate

TOPEKA — Republican U.S. Senators Jerry Moran and Roger Marshall rejected the Democrats’ economic package approved when Vice President Kamala Harris voted to break the tie.

The two Kansas senators criticized the projected cost of the bill, disputed claims that the package would have a significant impact on inflation, insisted the measure would hurt the economy by raising taxes and questioned a plan to hire thousands of new officers at the Internal Revenue Service.

The U.S. House of Representatives is expected to vote on and approve the bill on Friday before sending it to Democratic President Joe Biden.

Moran, who is seeking re-election against Democrat Mark Holland, former mayor of Kansas City, Kansas, said Congress should work on federal reform that can lower the price of fuel and other goods or services.

“The idea that spending more money and raising taxes will help fight inflation is wrong and confirmed by the Congressional Budget Office,” Moran said. “Rather than take steps to cut spending and increase energy production, the so-called Cut Inflation Act will raise taxes on small businesses and working families, including hiring 87,000 more workers. from the IRS to target more Americans with tax audits.”

Marshall said the passage of the bill was a “sad day” for the nation. He said the November election, which could result in GOP majorities in the House and Senate, “can’t come soon enough.”

“It will only push our economy further into recession and be detrimental to all workers in Kansans who will continue to see high prices for gas, groceries and rent. And it’s going to kill jobs,” Marshall said.

The bill passed 51 to 50, with Harris’ vote deciding the difference, on Sunday after an overnight session in which senators debated a long list of amendments.

The bill would invest approximately $400 billion in the fight against climate change. This would include tax credits for the purchase of electric vehicles and the construction of wind turbines and solar panels.

It would also allow Medicare to negotiate prescription drug prices to reduce costs for 64 million plan members and cap out-of-pocket expenses for seniors on Medicare at $2,000 per year. The legislation extended health insurance subsidies to 13 million people that were due to expire next year. Republicans removed a provision that limited the price of insulin to $35 per month for people covered by private health care plans.

The legislation would impose a minimum tax of 15% on large companies that earn more than $1 billion a year and a 1% tax on companies that buy back their own shares. The Congressional Budget Office estimated that the bill could reduce the federal deficit by $102 billion over 10 years.

U.S. Representative Jake LaTurner, the 2nd District Republican seeking re-election in November, said he opposed the Senate bill. His opponent is Democrat Patrick Schmidt of Topeka.

“Kansas wants economic relief at the pump and at the grocery store,” he said. “No more of President Biden’s failed agenda.”

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