There’s quite a few politicians who just violated their pledge to oppose any tax increases in the Senate, and that number will increase when the House of Representatives votes on the ‘Inflation Reduction Act’ today.
When the bill passes in the House, and it likely will, we’ll need to brace for the impact of whether it actually performs as its title suggests.
Americans for Tax Reform asserts that not only will it fail to perform as its namesake projects, it will do the following:
It’s $6.5 billion natural gas tax & $1.2 billion coal tax will increase household energy bills.
A $12 billion crude oil tax will cause higher gas prices.
A corporate business tax hike on U.S. businesses will have a trickle down effect of higher prices, fewer jobs, and lower wages.
$124 billion stock tax will deal a blow to 401(k)s, IRAs, and pension plans.
95% federal excise tax on American pharmaceutical manufacturers will stunt U.S. medical innovation and limit the supply of new medicines.
As we prepare to meet the demands of this cruel economic climate where there seems to be little respite from politicians who fail to follow through on their promises to the American people, we’ll need to exercise tremendous resilience together in Nevada.
As your next Treasurer, I will apply lean business strategies to protect Nevadans from any extra burdens caused by the impending taxes our national leaders are imposing upon us.
I hope you’ll join with me in safeguarding our state’s economic future by offering a donation of support in any amount today:
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