U.S. Rep. Jason Smith says he won't vote for Inflation Reduction Act

U.S. House passage of the Inflation Reduction Act, where Democrats currently outnumber Republicans, could come as early as today -- but congressman Jason Smith (R-8) told the Southeast Missourian he will not be voting in the affirmative.

"The Inflation Act will only make the current economic crisis facing Missourians worse. Inflation alone is costing families here in Missouri an extra $8,800 since Joe Biden took the oath of office. The bill currently before Congress will further fuel the inflation fire and only make things like gas and heating one's home this winter more expensive by spending hundreds of billions of dollars right now on a Green New Deal fantasy," Smith said in a statement.

The Senate passed the measure, 51-50, last week on a strict party-line vote, with Vice President Kamala Harris breaking a tie.

Jacob Wiegand ~ jwiegand@semissourian.com U.S. Rep. Jason Smith, R-Salem, Missouri, speaks during the 50th annual Lincoln Day celebration Saturday, March 23, 2019, at the Osage Centre in Cape Girardeau.

Assuming the bill passes the lower chamber, it will go on to President Joe Biden for his signature.

Financial impact

Smith said Wednesday the metrics of the legislation don't add up for him.

"The legislation adds close to $150 billion to the debt and supercharges the Internal Revenue Service with an additional $80 billion to hire enough new agents to fill Arrowhead stadium and harass middle-class Americans. As a matter of fact, this bill would directly lead to an additional IRS audit of 18,000 families in Missouri making less than $200,000. On top of that, at least half of the bill's tax increases will be footed by Americans making less than $400,000, a direct violation of President Biden's pledge. Washington Democrats should focus on lowering prices and delivering real relief for families instead of trying to spend their way out of an inflation crisis and tax their way out of a recession."

Smith has represented 30 southern and southeastern counties in Missouri since 2013.