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Republicans Warn Of Stiff Resistance To Inflation Reduction Act

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Political Market NewsPolitical RiskPolitical Risk BulletBulletMarketsFixed IncomeForeign Exchange

Senator Lindsay Graham (R-SC), the ranking Republican on the Senate Budget Committee has warned that the USD$740 billion Schumer-Manchin 'Inflation Reduction Act' will face stiff opposition from the GOP during this weekend's "vote-a-rama."

  • Graham: "It will be like hell. They [Senator Joe] Manchin (D-WV) and [Senator Kyrsten] Sinema [D-AZ] deserve this. But they are empowering this. We hope they will abandon this jihad to tax and spend. These are going to be hard votes for the Democrats."
  • Graham continued: "To Manchin and Sinema, thank you for holding the line on the filibuster, and doing some things to make things less radical. But you are going to be held accountable by your voters on this."
  • Graham also claimed that the Democrat assertation that the bill will reduce inflation, "is a fraud. It's a lie. Is going to make every problem worse."
  • According to the timeline outlined by Senate Majority Leader Chuck Schumer (D-NY), a marathon voting session will begin on Saturday with a final vote most likely taking place on Monday.
  • That's assuming that the package passes the closed-door scrutiny of Senate Parliamentarian Elizabeth Macdonough which is still underway.
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Senator Lindsay Graham (R-SC), the ranking Republican on the Senate Budget Committee has warned that the USD$740 billion Schumer-Manchin 'Inflation Reduction Act' will face stiff opposition from the GOP during this weekend's "vote-a-rama."

  • Graham: "It will be like hell. They [Senator Joe] Manchin (D-WV) and [Senator Kyrsten] Sinema [D-AZ] deserve this. But they are empowering this. We hope they will abandon this jihad to tax and spend. These are going to be hard votes for the Democrats."
  • Graham continued: "To Manchin and Sinema, thank you for holding the line on the filibuster, and doing some things to make things less radical. But you are going to be held accountable by your voters on this."
  • Graham also claimed that the Democrat assertation that the bill will reduce inflation, "is a fraud. It's a lie. Is going to make every problem worse."
  • According to the timeline outlined by Senate Majority Leader Chuck Schumer (D-NY), a marathon voting session will begin on Saturday with a final vote most likely taking place on Monday.
  • That's assuming that the package passes the closed-door scrutiny of Senate Parliamentarian Elizabeth Macdonough which is still underway.