Rep. Tenney to Newsmax: Latest Spending Bill Will Worsen Recession Rep. Claudia Tenney (Getty)
By Sandy Fitzgerald | Friday, 29 July 2022 08:40 AM EDT
President Joe Biden "inherited a robust economy in spite of the pandemic," but now the nation is in a recession and it will become even worse if the proposed Inflation Reduction Act, now backed by Sen. Joe Manchin, D-W.Va., is approved, Rep. Claudia Tenney said on Newsmax Friday.
"What they've done has created this mess," the New York Republican said on Newsmax's "Wake Up America." "We had lower taxes. We were focusing on small businesses that create 60% of the new jobs, and we were also cutting bureaucrat bureaucracy."
One of the highlights of former President Donald Trump's economic plan was to reduce unnecessary regulations in the federal government, which is what the problem is in many ways, said Tenney.
"These bureaucratic regulations are putting the bureaucrats in Washington, the so-called swamp, in charge of everything," she said. "They're basically taking our rights away because they have so much power."
And now, the nation is looking at historically high prices on gas, despite what Biden is saying about having breathing room with prices dropping slightly, and putting in a massive new spending bill that will be a "disaster," Tenney added.
The measure would include a 20% increase to the Environmental Protection Agency, "another big bureaucratic agency that's putting a drain on our energy with unnecessary regulations," said Tenney. Then there is spending for the Internal Revenue Service "to give them unfettered access to try to just torment our taxpayers," said Tenney. "The IRS can't even handle the backlog they have. Now we're talking about huge increases to other agencies"
There is also the continuing war on fossil fuels, and more situations that have brought the nation to a state of stagflation, "something we haven't seen since Jimmy Carter [was president]."
"What if we have three quarters in a row of contraction?" Tenney added. "We may be actually in a depression."
States like New York, she added, are the "perfect incubator for what not to do."
Everything in that state, including high taxes, high regulations, and high corporatism, meaning a high corporate welfare rate, are the wrong steps, said Tenney.
"That means a high corporate welfare rate, four times more than any other state," she said. "And yet we have mass out-migration of people. You see this lack of dynamism in the community and consolidation of small businesses becoming big, which is what hurts our economy."
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