Rep. Chris Smith (R-Manchester), who voted against the Biden Inflation Reduction Act, released the following statement in response to President Biden celebrating it’s one-year anniversary:

            “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.’

            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.

            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.

            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.

            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.”

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