Build Back Better Act

Floor Speech

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Mr. BALDERSON. Madam Speaker, I rise in opposition to H.R. 5376. Today, we are voting on a bill that achieves the exact opposite of what its name implies.

Here is what is in their $745 billion inflation reduction plan.

It raises taxes on businesses in the midst of a recession. It forces us into a socialist drug-pricing scheme, leading to fewer lifesaving cures, higher costs, and less hope. It hires 87,000 more IRS agents to spy on you. It makes it more expensive to heat your home with a new tax on American natural gas. It wastes $27 billion on the EPA climate bank charged with handing out all of your tax dollars to woke energy corporations.

They are throwing your hard-earned money at their Green New Deal dreams while carrying out their misguided threats to eliminate fossil fuels. Just look at Europe's energy crisis to see the true cost of the rush-to-green agenda.

Rather than unleashing America's abundant energy resources, this legislation raises taxes on energy production and imposes restrictions on local producers in my district and in Ohio. Instead of helping bring down prices at the pump for hardworking Americans, this bill gives away $7,500 tax credits for the wealthy to buy and upgrade their electric vehicles.

What does all of this mean for Ohioans? Higher prices, energy insecurity, and tax hikes.

Madam Speaker, this bill only makes matters worse. I urge a ``no'' vote on H.R. 5376.

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