Tue. Sep 27th, 2022

White House economic adviser Jared Bernstein said the $739 billion Inflation Reduction Act “more than pays for itself” Tuesday on “Your World.”

BIDEN RETURNING TO WHITE HOUSE TO SIGN INFLATION REDUCTION ACT AHEAD OF MULTI-STATE TOUR

JARED BERNSTEIN: There is no targeting of the middle class. The commissioner of the IRS said … the audits increas[ing] – they are of those above $400K and actually well above $400K, because that’s where the bulk of tax evasion when it comes to actual dollar amounts takes place. So we raise those revenues. And by the way, there’s something else I want to correct. You seem to be implying that the only revenue raiser in the bill is this, and it’s not. There’s also a corporate minimum tax, and there’s a tax on buybacks, none of which hit anybody under $400,000. But this bill more than pays for itself. It pays for itself. 

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