US Lawmakers Divided Over Inflation Reduction Act | EWTN News Nightly

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Congressional Democrats say President Joe Biden's goal of cutting emissions by 25% in 2 years may be within reach. This comes after a deal was reached between Senator Joe Manchin and Majority Leader Chuck Schumer on a multi-billion dollar clean energy plan. Republicans say this Inflation Reduction Act is nothing more than new taxes and will arm the IRS with even more tools to audit small businesses and everyday Americans. They add now is not the time, when we are dealing with record inflation. However, Democrats disagree. Catholic Senator Joe Manchin, who is battling COVID, issued a statement saying in part, "Rather than risking more inflation with trillions in new spending, this bill will cut the inflation taxes Americans are paying, lower the cost of health insurance and prescription drugs, and ensure our country invests in the energy security and climate change solutions." The Inflation Reduction Act reduces carbon emissions by around 40% by 2030, allows Medicare to negotiate drug prices and proposes more than $700 billion in new revenue. Capitol Hill Correspondent, Erik Rosales reports. EWTN News Nightly provides the latest news and analysis from a Catholic perspective. Join host Tracy Sabol, our Capitol Hill, White House and Rome Correspondents, as well as many other diverse guests daily, to get the latest from the U.S. and the Vatican on topics regarding our Catholic faith and interests. ------------- EWTN News Nightly airs on EWTN weekdays at 6pm & 9pm ET. ------------ Don't miss an episode of EWTN New Nightly. Get updates here: https://www.ewtn.com/tv/shows/ewtn-news-nightly ------------- Sign up today to receive the EWTN News Nightly newsletter: https://www.ewtn.com/enn ------------- Follow EWTN News Nightly on Social Media: Facebook: https://www.facebook.com/ewtnnewsnightly Twitter: https://twitter.com/EWTNNewsNightly Instagram: https://www.instagram.com/ewtnnewsnightly/ ------------- Subscribe to EWTN YouTube channel here: https://www.youtube.com/user/EWTN ------------- You can support the EWTN News mission: https://bit.ly/3qDR1qf