When the Democrats finally passed the “Inflation Reduction Act” in 2022 (how’s that going?), they included several tax hikes set to take effect on Jan. 1, 2023.
Americans for Tax reform‘s Mike Palicz has conveniently compiled a list of them, along with his take on their intended effects:
$6.5 Billion Natural Gas Tax Which Will Increase Household Energy Bills
Think your household energy bills are high now? Just wait until the three major energy taxes in the Inflation Reduction Act hit your wallet. The first is a regressive tax on American oil and gas development. The tax will drive up the cost of household energy bills. The Congressional Budget Office estimates the natural gas tax will increase taxes by $6.5 billion.
And of course, this tax hike violates Biden’s pledge not to raise taxes on Americans making under $400,000 per year. According to the American Gas Association, the methane tax will slap a 17% increase on the average family’s natural gas bill.
Continue reading “Here’s A List Of Biden Tax Hikes Which Take Effect Jan. 1”
