Government Watch / Politics

Fact Check: Manchin-Biden Bill Loaded with Special Interest Giveaways

Biden isn’t being honest with the American people

Biden
Photo Credits – Fox Business

Billions of dollars in Democrats’ so-called Inflation Reduction Act will go to special interests, yet Biden is using over-the-top, gratuitously partisan falsehoods, claiming “Democrats sided with the American people and every single Republican in Congress sided with the special interests.” Here are some examples.

  • Book Minimum Tax lets special interests operate off the books. The centerpiece of the Manchin-Biden bill, the Made-in-America Tax (Book Minimum Tax) is full of special interest carveouts:
  • Green New Deal tax credits for union bosses: Democrats offer $141 billion in green subsidies only to those companies that use union labor, which adds up to 10 percent to the cost of every project.
  • Luxury electric vehicles: Automakers get a $14 billion taxpayer subsidy when taxpayers earning up to $300,000 a year buy from them. One automaker, for example, just announced that the price of their electric vehicles would go up exactly the amount of the new tax credit.
  • Union pension carveouts: While tens of millions of Americans see their own 401(k) plans crumbling in Biden’s cruel economy, powerful labor union executives lobbied to exclude their union pensions from the minimum tax. 
  • Silicon Valley subsidies: Tech companies producing semiconductors got a special carveout so they can take their $24 billion in new taxpayer subsidies right to the bank.
  • Green energy corporations: Big Wind and Big Solar collect as much as $127 billion in new federal tax credits over the long term, doubling the total cost of federal handouts to wind and solar to $240 billion. Senate Finance Chairman Ron Wyden (D-OR) has bragged, “we believe renewable energy is fully protected.”
  • Expensing bribes and fines: Companies that have engaged in bribery, or that have been forced to pay penalties or fines for breaking the law, now get to write off these expenses under the book minimum tax — overturning the tax code’s current prohibition on such benefits.
  • Corporate fleet handout: Large corporations can now use billions in federal taxpayer dollars to purchase brand new electric cars and trucks.

Big insurance special interest hand out – Insurance companies get $64 billion in taxpayer subsidies that bribe wealthy people who already have health insurance into Obamacare. That’s only for the next three years – Democrats want to make these subsidies permanent to the tune of $248 billion.

Federal employee union subsidies – Injecting an additional $80 billion to hire 87,000 new agents doesn’t just mean more audits that harass middle-income taxpayers – it also means more members for the IRS employees union, whose dues will be put towards political spending.


Reprinted with Permission from - U.S. House Committee On Ways & Means by - J.P. Freire, Jessica Henrichs, Zach Kahler, and Lauren Camp

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Michael Lewis
5 months ago

We are supposed to pray for our leaders. Here is my prayer: “Oh Lord, vengeance is yours, please execute it on what pretends to our leadership in Washington DC?

DrivinItLikeHeStoleIt
5 months ago

They say every man has his price. The Dems obviously found Manchin’s.

Veteran
5 months ago

It wouldn’t be a Democrat bill if it wouldn’t bring home the bacon to the porkers, and piggish slop trough of their crony financial supporters at the expense of American workers and taxpayers. Self appointed elitist’s, and champagne leftist billionaire’s Wagyu steaks only seem to taste right if they are first marinated in the blood, sweat, and tears, and greenbacks of the American taxpayer extracted under extreme pressure of hyperinflation, and new taxation. Brandon and his party love to “serve the “little” people…(on toast, because they are crunchy, and good with ketchup)!” Only the cognitively impaired now still have an excuse to vote Democrat.

Nobody’s Business
5 months ago

Mad at myself for thinking Manchin might be a reasonable Democrat, when he’s just another money grabbing politician just like most of them, Democrats and Republicans. Shame on all of them for destroying our country for the betterment of themselves and their own families. Every government project has kickbacks for the politicians.

Joanne4 justice.
5 months ago

Money is a great persueder , did you see the smiles on faces of Manchin and Sinema?

Rik
5 months ago

When was the last time the so-called Democratic Party was “honest” with anything? . . . Prepare to fight to keep your Life, Liberties and Freedoms!

J. Farley
5 months ago

Neither of these two Half-Wits have told the truth since the Great Salt Lake was an inland sea! Their motto is, if you must do anything, lie first!

JEFFREY JONES
5 months ago

IN ORDER TO SAVE THE U.S.A….ARREST AND ELIMINATE PERMANENTLY ALL DEMONRATS,LIBTARDS ,SOCIALIST,NAZIS AND OTHER AMERICA HATERS!!!!!!!!!!,,,,,,,,…..

Adonis
5 months ago

The next question. What was in it for Manchin and his pocketbook after secret call from pervert Bill Gates?

jocko
5 months ago

NEVER, EVER TRUST A liberal OR A chimp

William Czincilla
5 months ago

Thank you demon-cRATS.

Don K
5 months ago

Wow! Simply wow!

Bill T
5 months ago

This is a totally one sided giveaway, all the huge unions will swim in taxpayer funded giveaways while the small companies struggle or simply drown in dept. It’s another Marxist move to quickly change our foundation and give the special interest and non profits another endless money pit. Joe Manchin crossed the line and is nothing but a progressive leftist socialist democrat. He needs to be soundly defeated and put on unemployment.

Wild Bill
5 months ago
Reply to  Bill T

No, not unemployment. That comes from the taxpayers. Throw him out on the streets.

Hal
5 months ago

Biden and the CommiedumbocrRats are ripping at the soul of this Nation, and too many citizens don’t realize they will suffer or continue to suffer in the long run as long as they control the Federal Government .

Neal Valenra
5 months ago

Until Congress has Term Limits this will always go on. It’s been like this the past 60 years and will never change unless term limits are installed.

Glenn
5 months ago
Reply to  Neal Valenra

That’s exactly what a Convention Of States (COS) calls for in the doctrine. Term limits on congress as well as the Supreme Court. There are term limits on the presidency as such, there should be term limits on the remainder of the governing body.

Jeanne
5 months ago

This is what’s wrong with the whole Dem Party. They have been getting away with this for decades and lying thru their teeth about everything. Get rid of the whole Biden admin., Pelosi, Schumer, AOC, Omar and all the other traitors. What is the holdup? Cowards in the Republican party along with the Dems? All they do is talk, talk, talk and ask for money. They are disgusting and they are NOT leaders.

PaulE
5 months ago

Well duh! Yes everything listed in this article is indeed in the climate change / tax hike bill just passed by the Democrats. Plis a whole lot more not mentioned in the article. The text of the bill was on-line before the final votes were made, so everyone should have taken the time to read at least some, if not all of it. It’s literally 700 pages of “special deals” and new sociallist polcies that will be rammed down the peoples’ throats over the next several years and it’s now law.

Everything from how you heat or cool your homes to what kind of vehicle you will be allowed to own and drive in this country is covered in this bill. It’s one huge massive social and economic re-enginerring bill to more closely align the United States to look and act just like most European countries that have destroyed their societies over the last decade in the name of climate change. Watch how the European countries will all be scrambling this winter, as that will be us in a few years from now.

Max
5 months ago
Reply to  PaulE

As usual, everything in the bill points to the downfall of this nation by the controlling ELITE.

David Millikan
5 months ago

NOT ONE PENNY goes to AMERICANS or BENEFITS the UNITED STATES of AMERICA.
DICTATOR Beijing biden and his FASCIST Party ARE GUILTY of TREASON.
ILLEGAL ALIEN TERRORIST INVASION is TREASON by itself.
Then ADD ALL the ILLEGAL and UNCONSTITUTIONAL Executive Orders on Top.
ADD DICTATOR Beijing biden’s ties to COMMUNIST China with Hunter biden.
ADD Hillary Clinton to the GUILTY of TREASON list DESTROYING Government Phones, Bleached Hard-drives, RUSSIA COLLUSION, HIDING TOP SECRET DOCUMENTS, and getting 4 AMERICANS KILLED.
ADD SWAMP QUEEN pelosi with husband and son ties to COMMUNIST China with INSIDE TRADING.
ADD EVERY person in Congress and Senate that voted for the
INFLATION INCREASE ACT and other ILLEGAL and UNCONSTITUTIONAL Bills they passed.
WHERE’S the FBI?
WHY isn’t the FBI RAIDING their homes for TREASON when there is mountains of EVIDENCE against them?
As SWAMP QUEEN pelosi loves to say; NO ONE IS ABOVE THE LAW.
So, WHERE’S the FBI? HARASSING INNOCENT AMERICANS like PRESIDENT TRUMP.

Jeanne
5 months ago
Reply to  David Millikan

But swamp queen thinks she is above everything and everybody. I am afraid of how all this will end….NOT WELL.

Don133
5 months ago
Reply to  David Millikan

And the reality here is those idiots in West Virginia will vote that traitor in again. Biden will die and the whole country will rally around Harris who will win by fraud and illegal votes. So sad.

JEFF JONES
5 months ago

ARREST the whole biden administration for treason and murder!!!,,,,,,

Jeanne
5 months ago
Reply to  JEFF JONES

There must be someone with the guts to do what needs to be done.

Michael J
5 months ago

Not honest politicians? We already knew that.

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