congressman kevin brady, thank you so much. near record high inflation cutting into consumer spending. kekenny is here with the affectn your investments, next. outside the cell... ...while verzenio works inside to help stop the growth of cancer cells. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor, start an antidiarrheal, and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. life-threatening lung inflammation can occur. tell your doctor about any new or worsening trouble breathing, cough, or chest pain. serious liver problems can happen. symptoms include fatigue, appetite loss, stomach pain, and bleeding or bruising. blood clots that can lead to death have occurred. tell your doctor if you have pain or swelling in your arms or legs, shortness of breath, chest pain, and rapid breathing or heart rate, or if yo

house ways and means committee ranking member kevin brady will respond.onsumers planned calling inflation exceptionally high and planning additional rate hikes, i am asking slate stone chief market strategist kenny pulled kari how long jacob asked where he's putting his money right now pretty new energy tax u.s. oil and gas association tim stewart sounds off coming up. but first the hill climbing the gop is making the irs a bogeyman they write this as republicans and rail against the fbi in the wake of the search at mar-a-lago they are hiking the three letter agency irs. glenn kessler tweeted in part yesterday, the gop is preying on people's fear of an audit which is basically neil. house ways and means committee ranking member kevin brady, great to see you. but dig into the inflation reduction act and the notion that it expanded irs will increase audit and taxes making less than $400,000 a year, the administration says absolutely not bipartisan and nonpartisan committees that review these numbers essentially say it's impossible that it will not impact th

karl rove, congressman kevin brady up here in just a moment. but first, this. >> gillian: the taliban celebrating in the streets of afghanistan. the afghan people are suffering. the u.n. estimates more than half of the population needs some form of humanitarian assistance. the world banks say they're at the lowest level in a decade and after promising to respect women's rights, the taliban have banned most girls from going to school past sixth grade. >> even in the past, there were restrictions and violence but there was hope. we had school. we could have knowledge. now they lost their only hope, which is education. >> this a somber reminder of how desperate people were a year ago to get out of afghanistan anticipating a taliban takeover. you can see them there clinging to the side of a u.s. military plane taking off from kabul. some afghans tragically fell to their death. the chaotic u.s. exit led to a terrorist attack outside the airport. now republican congressman is out with a report accusing the biden administration of a strategic failure

the ways and means committee and the house ranking member republican kevin brady. >> i don't believes is legal. but the president is trying to use taxpayers as a personal campaign slush fund. and it's wrong. and i don't believe he has the legal authority to do it. but i think to your bigger point, this is just so unfair. so i have a neighbor who's a detective, who's worked three jobs as long as i've known him, including selling carpet. plus his wife worked to make sure that their daughter could go a state college, a good quality college and come out of there debt-free. so now they have to pay taxes after all that sacrifice of years, pay off the debt of someone else's student loan. and here, you've got under president biden. so under this theme, you've got a single mom who pay off the debt for a computer scientist. you got a plumber who paid off the debt of a physician's assistant. you've got goth a janitor who pay off the debt of an i.t. architect or a psychologist. you know, how is that fair in anyone's world? it just isn't. so we are going to fight this because it is illegal it is

house ways and means committee ranking member kevin brady

we have a big show ahead with texas congressman kevin brady. he will be here. he says democrats are crushing american families and their businesses with the new 700 billion-dollar spending plan. we have former toys "r" us ceo gerald storch. he will join us to break down breaking consumer trends as we watch prices continue to skyrocket. former acting attorney general matt whitaker slamming the biden administration for lack of real policies on the the border. that is coming up on "coast to coast." fox news congressional correspondent aishah hasnie is live at the white house with more for us. reporter: for the white house all this morning has been trying to call on china not to increase tensions between the two nations but speaker pelosi really picking on china overnight talking about freedom and democracy while accusing china of standing in the way of taiwan. watch. >> i just hope that it's really clear that while china has stood in the way of taiwan participating and going to certain meetings that they understand that they will not stand in the way of people com

. >> coming up, congressman kevin brady on what wall street needs to know.nt to talk to him? who will pressure jay powell more the progressives who don't want to or the right who thinks we need supply-side solutions, not higher rates i don't know strange bedfellows >>> first, check out this morning's biggest dow movers only at vanguard, you're more than just an investor—you're an owner. we got this, babe. that means that your dreams are ours too. and our financial planning tools can help you reach them. that's the value of ownership. with xfinity internet, you get advanced security that helps protect you at home and on the go. you feel so safe, it's as if... i don't know... evander holyfield has your back. i wouldn't click on that. hey, thanks! we got a muffin for ed! all right! you don't need those calories. can we at least split it? nope. advanced security that helps protect your devices in and out of the home. i mean, can i have a bite? only from xfinity. nah. unbeatable internet. made to do anything so you can do anything. >>> welcome back to "squawk box

neil: kevin brady, thank you again. >> good to he sue, neil. neil: thank you. to the congressman's point, larry summers, former treasury secretary for bill clinton already come against this with repeated tweets and emails, this, whatever the final figure, is inflationary. this is now not the time to do that. meantime we got an interesting announcement coming out of apple for a september 7th event, which seems to telegraphing the big introduction of the latest iphone, iphone 14. it is characterized as a far out event. we'll show this little press rsvp they come out. i'm only saying far out. sometimes it hint what is they have to offer. i'm thinking the camera, and maybe getting vision you know, better images from far, far away, changing macro lens, maybe who knows i'm getting too into the high-end means here. apple, sent september 7th big doings. many think it's a whole new iphone. given the prices of these will people pay, after this? ♪. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor

kevin brady mentioned this. the pen wharton budget model, the congressional budget office. they say a negligible impact in the short term. bernie sanders said that inflation reduction act does not reduce inflation. if you start to remove these gimmicks like was described, you can see a higher deficit impact than what they're claiming. you could see more inflation in the median term. >> charles: that's the part that is frustrating. the assumptions. these things make these assumptions that they may go over and over again. here we are with record-breaking debt. it gets frustrating for the average person watching this who is apolitical, by the way, not on either side of the aisle but heard it from washington and you see it happening over and over again. >> yes, they promised when they passed the american rescue plan that would do wonders for the economy. i don't know how they can feel good about this. we have had two consecutive quarters of negative economic growth. to raise taxes to the tune of hundreds of billions of dollars that will impact everyday americans. it's not just

house rankerring member kevin brady will respond

texas congressman kevin brady's' value shoppers at walmart and other retailers already struggling withected fuel to drive to the store will get it with 710,000 additional audits thanks to the bill. just to put a bit of perspective on how huge were talking about making the irs, were going to add another 80,000. about this? another 65,000 staffers for the iris. compare that to the dod. compare that with the state department, fbi, border protection. the white house insist they're not after you. because you think it's going to be popular with the 87,000 new employees hired by the irs start auditing people under the inflation reduction act? >> secretary jean-pierre: it very clear that the irs commissioner was very clear in this paper is that on the record that this will only apply to those earning over $400,000. >> lesson, no matter what the white house says, the legislation does not explicitly guarantee that americans making under $400,000 a year want to see tax increases under the irs provision, and for what it's worth, overall, the irs will conduct more than 1.2 million more annual audit

. >> sandra: that was kevin brady sounding the alarm on the democrats spending bill.is that really the case? to aishah hasnie on capitol hill. hello, aishah. >> hello, sandra. the white house finally went on the record this afternoon saying that the irs will not go after those middle class americans earning less than $400,000. watch. >> you think it's popular when the 87,000 new employees hired by the irs go around around start auditing people to pay for the inflation reduction act? >> it's very clear that the irs commissioner was very clear on this. he said that on the record that this only will -- it will only apply to those earning over 400,000. >> no new audits on anybody making under $400,000 a year? >> very clear. no. >> they're trusting the worst of the irs commissioner here. people have reason to be worried historically speaking. recent analysis by syracuse university shows the irs audit, the poor are five times more than anybody else. in 2019, the top five places for audits were predominantly the black rural counties in the deep south. >> auditing the working

add to inflation plus, kevin brady will be here a lot more on squawk, we're back right after this asou earn points on top of your airline miles. so you can go see even more of all the world's bubbles. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. >>> all right, welcome back. between the chips semi-conductor act and the inflation reduction act set to be signed saturday, the government is set to spend billions of your money in a single week. joining us is chairman and founder of operation hope. and john, good to have you on. i'll start with you. >> all right >> will the inflation reduction act actually reduce inflation? >> it's not going to reduce near-term inflation. that's tied to the war in ukraine. that's where the oil spike came from and it's tied to, i call manufactured inflation from covid. with the breaking of the supply chain and all that came with covid, which

the ways and means committee and the house ranking member republican kevin brady. >> i don't believehis is legal. but the president is trying to use taxpayers as a personal campaign slush fund. and it's wrong. and i don't believe he has the legal authority to do it. but i think to your bigger point, this is just so unfair. so i have a neighbor who's a detective, who's worked three jobs as long as i've known him, including selling carpet. plus his wife worked to make sure that their daughter could go a state college, a good quality college and come out of there debt-free. so now they have to pay taxes after all that sacrifice of years, pay off the debt of someone else's student loan. and here, you've got under president biden. so under this theme, you've got a single mom who pay off the debt for a computer scientist. you got a plumber who paid off the debt of a physician's assistant. you've got goth a janitor who pay off the debt of an i.t. architect or a psychologist. you know, how is that fair in anyone's world? it just isn't. so we are going to fight this because it is illegal it i

congressman kevin brady wrote "value shoppers at wal-mart and other retailers struggling with higheraudits thanks to the mansion, biden, democrat will. it sames to tackle deficit reduction, healthcare, and climate". u.s. auto makers say 70% of u.s. electric vehicle models are not eligible for tax credits under this. the senate will need all 50 votes for the legislation to move forward. think about it this way, one positive covid case could through the whole thing off course. guys. will: thank you, alexandria. let's bring in the host of varney and company. >> good morning. can i say something off the top? the inflation reduction act of 2022 will not reduce inflation, it will not cut the deficit. it will not result in anything good for american families. let me get the list here. it will not cut the deficit, it will not restore america's energy independence and the irs will not just be going after rich people's tax loopholes, they're going after middle america and small companies. this is an awful, mis-mash of bad policy. that's my opinion. will: they'll go after the middle class, stua

karl rove, congressman kevin brady up here in just a moment.e taliban celebrating in the streets of afghanistan. the afgn

we have a big show ahead with texas congressman kevin brady. he will be here.