look, more i.r.s. agents, as art laffer said years ago, that's not going to increase the amount of revenue to the government. and in fact when you say it's going after the ultrarich, what happens is the ultraparishioner are the only -- ultrarich are the only ones who can avoid paying these taxes they hire attorneys, accountants, they can move, change their business structure. it comes right back to the middle class every time. these same policies are the reasons that the average black household in the eight years of obama lost 30% of their net worth. so we keep hearing from the other side. there's had runaway inflation and this ugly bill's going to stop it? the president says zero percent inflation. somebody's lying. we'll find out who. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from massachusetts is recognized. mr. neal: i'll be the first to acknowledge, that madam speaker, i reserve. the speaker pro tempore: the gentleman reserves the balance of his time. t

look at how the i.r.s.dwarf the combination of these other agencies particularly at least one that needs more people. the head of the house gop campaign arm says joe biden is willing an army of i.r.s. agents to bully the middle class. the white house says that's not true. >> on the i.r.s. piece this is just the latest example of thoefs who do nothing to protect tax welfare for the rich at the expense of everything else. they are lies. >> harris: aishah hosni has more from capitol hill. >> you're right. democrats believe more money for the i.r.s. means more auditors to go after the wealthy but historically speaking, people have plenty of reasons to be worried. so according to a fairly new analysis by syracuse university, the i.r.s. audits the poor about five times more than everybody else. in 2019 is it was revealed the top five places for audits were predominantly blook rural counties in the deep south. why? experts say budget cuts have caused the agency to lose their most experienced auditors who could go

we know the i.r.s. needs a lot of help. 14 times more dollars going towards enforcement than to help them do their job. they are insisting this bill will not raise taxes on small businesses or households with income under $400,000. mr.smith: i yield 15 seconds. >> yet during the rules committee debate, a ways and means committee member admitted that americans will see a tax increase and citing an analysis from j.c.t. this bill is not a plan to address inflation. i yield back. the speaker pro tempore: the gentleman from kentucky is recognized. mr. yarmuth: i want to clarify one thing. it seems to me that republicans don't want people to pay taxes even if they are owed. we know there are hundreds of billions of dollars of owed and not paid taxes in this country every year and this is an amendment to try and recover some of that money that is owed and not being paid by the taxpayers who are in many cases cheating. i.r.s. has made no decisions or no announcements regarding potential hiring plans under this

look, more i.r.s. agents, as art laffer said years ago, that's not going to increase the amount of revenue to the government. and in fact when you say it's going after the ultrarich, what happens is the ultraparishioner are the only -- ultrarich are the only ones who can avoid paying these taxes they hire attorneys, accountants, they can move, change their business structure. it comes right back to the middle class every time. these same policies are the reasons that the average black household in the eight years of obama lost 30% of their net worth. so we keep hearing from the other side. there's had runaway inflation and this ugly bill's going to stop it? the president says zero percent inflation. somebody's lying. we'll find out who. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from massachusetts is recognized. mr. neal: i'll be the first to acknowledge, that madam speaker, i reserve. the speaker pro tempore: the gentleman reserves the balance of his time. t

the i.r.s. with 87,000 new agents. a new job posting by the agency is blowing up the internet and flagging serious concerns. i'm harris faulkner. the job description. 50 hours per week. may need to work weekends or holidays. wait for it. quote, carry a firearm and be willing to use deadly force if necessary. the idea of armed auditors coming for americans is chilling. no surprise the reaction swift and brutal. former acting dni rick grenell says democrats are ready to audit yu using a gun if necessary. the democrats are anti-guns unless it's guns for their new i.r.s. agents authorized to use deadly force. >> they are coming after entrepreneurs and small business owners and coming after our middle class hard working americans. there is no question about that. then you layer on top of that what you just mentioned. their criminal division with the power of enforcement of a gun essentially. >> harris: another source of outrage house democrats prioritizing i.r.s. expansion rather than police. speaker

we know the i.r.s. needs a lot of help. 14 times more dollars going towards enforcement than to help them do their job. they are insisting this bill will not raise taxes on small businesses or households with income under $400,000. mr.smith: i yield 15 seconds. >> yet during the rules committee debate, a ways and means committee member admitted that americans will see a tax increase and citing an analysis from j.c.t. this bill is not a plan to address inflation. i yield back. the speaker pro tempore: the gentleman from kentucky is recognized. mr. yarmuth: i want to clarify one thing. it seems to me that republicans don't want people to pay taxes even if they are owed. we know there are hundreds of billions of dollars of owed and not paid taxes in this country every year and this is an amendment to try and recover some of that money that is owed and not being paid by the taxpayers who are in many cases cheating. i.r.s. has made no decisions or no announcements regarding potential hiring plans under this

you're doubling the size of the i.r.s. you're going against every single reason people were in that boat, willing to risk their lives for a government of the people, by the people, for the people. a government that was created in a country that was conceived in liberty and dedicated proposition that we're all equal. because you think you know what's best. i can only imagine what those individuals would think today, that you'd put a bill on the floor that didn't go through committee, you'd put a bill on the floor that would double the size of the i.r.s., that could go after the american public, that has no set on an income, the 710,000 people under the income of $75,000 are now going to be audited because you want them to pay for what you think is best. that you're going to tax with no limit on income some family that already lost a month's salary based upon your past actions because of inflation. you're going to make them choose how cold, you're going back to jimmy carter, you're simply telling the american public to put t

and americans will see more i.r.s. audits because this bill gives ability to hire i.r.s. agents. we need to put our resources in hiring more border patrol officers and stop the flow of illicit drugs. more troubling parts of this bill are the health care provisions. i strongly disagree with using medicare money to pay for obamacare subsidies for the wealthy. medicare is at risk of insolvency and house democrats didn't give this amendment a chance to be considered. while democrats praise government pies setting or negotiation, they fail to mention that such policies would lead to at least 15 fewer drugs coming to market according to the nonpartisan congressionalbudget office. could it be the cure for alzheimer's or diabetes, it could be. they won't mention that c.b.o. says this bill will lead to higher prices on new drugs. they will give the h.h.s. secretary a slush fund despite h.h.s. botching the response to the covid-19 pandemic and politicizing guidance that kept schools closed. how can can anyone support giving billions of dollars in unrestricted authority to h.h.s. that we kn

people fear the i.r.s. because either individually or as a family and you know neighbors and have experiences with audits. >> democrats could have spent this money anywhere. did they spend it on roads, bridges, infrastructure? did they put it towards the military in bringing up our united states navy to compete with china and have as many ships as china? we didn't do any of that. we didn't reduce the pain at the pump or allow it to accelerate transmission lines so we can have electronic cars and do these things. they want every american to have an enema and they will get it from the i.r.s.. they are throwing literally tens of billions of dollars at the i.r.s.. don't tell me that we're not going to touch anybody under $400,000. you have nothing to worry about. there is no worse feeling in this country than getting a notification from the i.r.s. that you are under audit and that's what the democrats are asking for. >> an editorial in the "wall street journal." while i ask you this let's look at a digital bill

for example, on the i.r.s. if we're talking about i.r.s.g i think it would make sense to talk about the size of the u.s. economy, how much it's grown, what is the size of the i.r.s., what is their budget, and there would be an nrjt way to have that conversation. when you have a guest come on and talk about the i.r.s. coming after little people not grounded in any facts or basis in reality, i think it's not helpful and ink that a lot of the conversations we're having in these country aren't helpful. and i would go to again our media is owned by roughly five companies. c-span gets its funding from the cable monopolies so it's going to be a very tainted privileged product that supports the narrative of the billionaire class. and we need people to have more power, control, and voice. and there's very little room and i know i don't have enough time because i'm not a guest that gets to come on and lie. i'm just a citizen with a very small voice but i appreciate this little space. host: let's go to john who is calling from florida on the republica

you look at the i.r.s. staffers versus other federal agency, set to have more staffer than any other federal agency, workers in the u.s., estimate for the i.r.s., 165,000, department of defense, 27,000. state department, 23,000. fbi, 35,000. you cannot look at any other agency where there are more employees. and now there is this new analysis of i.r.s. data, senator, i'm not sure if you've seen it, transactional records access clearinghouse at syracuse, university, says the target of this are low income households with less than $25,000 in annual earnings. they are saying the i.r.s. audits the poorest five times the rate of everyone else. your concerns, sir. >> i think hard working americans will once again feel the brunt of this. they have doubled the number of i.r.s. agents. i think they are going to target small businesses. look, i signed a paycheck every other week for as many as 300 people for 25 years and when you go through the audits, number one, it's expensive. so a small business is going to spend

biden's i.r.s. will have more staff than the pentagon, state department, fbi and border patrol combined. that's the tweet that she sent out. i heard people repeat that. it's a ridiculous claim. i'm not quite sure where it started. i don't know about you, mr. beyer, we're getting lots of calls to my district office from constituents who are owed money by the i.r.s. a lot of time has gone by. they are wondering where the hell is their check. they have questions and they can't get their calls returned. all because there's this huge backlog. they actually believe we should invest more so that their returns can be processed in a more timely fashion. estimated staffing number is provided over ten years. many of the additional staff will replace a significant number of people who are retiring, about 50,000 expected to leave over the next six years. let me say it clearly, at no time will the i.r.s. have 87,000 new auditors. when they say more employees than the pentagon, what the hell are they talking about

it's the same i.r.s.t destroyed 30 million paper filings just earlier because they have just couldn't handle it. all this money will be for investigators, civil suits, a bunch of new cars. this is a law enforcement agency that spawned lois learner. maybe it will be the parents who go to school boards. >> harris: this is when americans are hurting and kicking them in the teeth. he challenged me, manchin. read it. now that we're reading it, look what's in it. >> the patriotism is acknowledging the truth that it's an assault on the american people during a time of high inflation, during an uncertain time economically in general and you will squeeze more blood out of that rock? shame on you, how dare you. for joe manchin to pretend it isn't a new tax, he is deciding to not face the truth because he is getting something. you know, it shows you they're all the same out there in washington >> harris: kyrsten sinema, what she will do from arizona. the only one holding out at this point. hearing for house nancy pe

it could also turbocharge the i.r.s. more on that in a moment. >> dana: democrats named it the inflation reduction act. republicans say it's laughable and not even bernie sanders is buying it. >> i want to take a moment to say a few words about the so-called inflation reduction act that we are debating this evening. i say so-called, by the way, because according to the cbo and other economic organizations that have studied this bill, it will, in fact, have a minimal impact on inflation. >> dana: team fox coverage. marc thiessen is on deck with analysis. we begin with jacqui heinrich at the white house. >> democrats certainly think that bringing key priorities on healthcare and climate across the finish line ahead of the mid-terms will turn things around for them. poll after poll has shown that the biggest problem for the president and his party is inflation. and even though they've dubbed this bill the inflation reduction act, congressional budget found it will have little to know impact on inflation. the biggest issue f

these i.r.s.s or middle income americans as we have been planning. he is the commissioner and he knows what they are planning. our investment is designed around treasury's directive that audit rates won't rise for households making under $400,000. in other words, i.r.a. resources won't add to audits for households under $400,000 and those same households won't see one penny increase in their taxes based on proposals in the inflation reduction act. let's just make sure the record is clear on that point. >> dana: there are many other institutions that have said otherwise including the congressional budget office considered nonpartisan. let me ask you this. what people are feeling as a personal reaction to the possibility of the doubling of your chances of being audited. have you ever been audited, sir? >> i have never been audited. i actually have a great record in paying my taex and i suspect most people listen to my voice would say the same thing. >> bill: they have to prove their innocence. >> mo

you are trying to keep the i.r.s.fied so they don't audit you. >> bill: -- >> when you get the letter you need to call your accountant even if you did it perfectly. >> harris: the "wall street journal" opinion page put it quote, it took only a few days for the congressional budget office to put the narrative to rest. a quick analysis from the budget scorer confirms the audit expansion will ensnare the middle class and what was the narrative? that high earners would be so impacted. what is your reaction to that? >> well, the high earners already are very well versed in how to defend their decisions and their filings. they get audited every year. you have to go lower and lower to find people a little bit less cautious and careful and have the i.r.s. go in. believe me when i tell you, when the i.r.s. decides they want to audit your return they have a really good sense that they are going to get money from it. they don't audit returns that they don't expect to get money from. they audit and these people have to spend a lo

that would give the i.r.s.epartment, the f.b.i., and the border patrol combined. fox news contributor sean duffy, former wisconsin congressman. good morning to you. how do you think this is going to go? >> not well. i disagree with john thune. this is not an american tax agency. this is a republican tax agency. when i ran for congress in 2010 i ran against a 40 year incumbent. he was very powerful. when i announced i was running i got a tax audit from the i.r.s.. four supporters who went to campaign stop and asked fair but hard questions. after the democrat congressman's staefrs asked who the four people were three months later they got tax audits. this is punish republicans and republican donors if you give to the republican party which by dem standards is the wrong party. the i.r.s. is coming for you. this is not transparent. no one sees who is being audited. you don't put it on your facebook page and instagram. they can do it under the cover of darkness to silence and punish republicans and make sure democra

we don't have enough i.r.s.to actually address the issues that we're facing. >> the number one agency that the american people would like to have have more agents and be more helpful, pick up the phone, be more responsive is the i.r.s.. >> trace: democrats feel the need to rebrand the tax and spend law as a key to energy independence while americans are still facing painful gas prices. that new framing is part of a democratic ad campaign. look. >> energy independence, over 9.5 million new jobs. democrats delivering for america's families. >> trace: marc thiessen fox news contributor and whous -- former white house speech writer. rebrand it. you have inflation and energy. that's a big problem. now this suddenly limits inflation and brings it down and it increases energy independence. next week they'll call it a crime bill because it will get rid of crime as well. it does a lot of things. >> they're being called out on their false advertising. they called it the inflation reduction act but it found the effects on

those 87,000 agents, the i.r.s. is going to be -- you can't tell me the i.r.s. won't be weaponized against conservatives the way it was under barack obama. everyone should be concerned with this abuse of power. >> harris: when you talk about the word weaponize, it gets tossed around a lot right now. i would love it if you could, for the american people, drill that down and you say everybody should be concerned about it. there is a core reason why we don't go after political opponents. do we really want to become venezuela? you take it. >> that's exactly right. you want to drill down on what the word is? the word is when one political party occupies the executive branch and they have everyone in their cabinet under their supervision, they are responsible to all americans. when they take those agencies of government in this case harris the f.b.i. and they use it to purposely go after their political opponents, then it becomes more like a banana republic. a dictator taking out their political opponents. that is not america and that's what we mean we weather we say

i guess the i.r.s.e degree of self-protections to say the average store owner in new york city dealing with crime. people already faced with increased audits from the i.r.s. and audit is upsetting enough as it is. this is almost a bridge too far. >> dana: let me get your take on what the president's economic advisor said yesterday on air about uday its. >> i think what people are feeling as a personal reaction to the possibility of the doubling of your chances of being audited. have you ever been audited, sir? >> i have never been audited. i actually have a great record in paying my taxes. >> even people who are audited. >> did you get audited? >> we have to prove their innocence. >> most people haven't been audited. it is illegal to evade taxes and you may well be audited. >> dana: it was a frustrating answer. your take, dan. >> it is very frustrating. dana, here is the reality that is going on with this effort to hire all of these new i.r.s. agents. in the past two years the government has tried to sp

you want to sic the i.r.s. on people but not help out your own party's people with their migration problems now by flowing cash and resources. how will that go over in the democrat party? >> it is really interesting. you have two different political realities here. number one you have latino voters in this country starting to shift pretty dramatically to the republicans in large part because they don't support a borderless united states. they want folks to come into this country the legal way. on the other hand you have hard core progressives that are open border democrats and not help the people you encouraged to come without help. politically speak it will be interesting to see democrats get out of it. i don't think that you can walk those kinds of statements back. >> harris: it reminds me of when vice president kamala harris at her becoming the czar of the border or whatever her title was, she said don't come. do you remember that? and all the people who were just so angry, particularly the far left that she

they want the i.r.s. to go after regular people. people who work hourly wages, middle class, middle income jobs. i don't think the president, just like in so many other cases, i don't take the president's word for meaning much based on his record that he cares at all about waste, fraud and abuse. they should have named the bill instead of the inflation reduction act they should have called it the government expansion act. that's what it is going to do. expand government. you will see money used in ways that will make taxpayers ill at the end of the day. >> harris: well, i wonder how it works on the hill. you tell me. can you reintroduce that bill to hold everybody accountable for the inflationary impact and just keep doing it? >> we will. when we get the majority in the house i guarantee we will. >> harris: representative jim banks from indiana. great to have you in "focus" today. thank you. >> harris: it's become a bad habit. president biden again dodging questions from reporters after signing his massive tax and spending bill into

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okay, ramped up i.r.s..lion in revenue to pay for the democrats' new spending bill. also there is this. check it out. [gunshots] >> it was one year ago today august 15th, a sunday when the taliban rolled into kabul and now afghans left behind say their country has gone back 20 years. trey yingst back live in the capital city after his intense reporting from a year ago. >> tonight the taliban is in control of afghanistan. we did confirm with u.s. officials that afghan president gani fled the country earlier today as fighters made their way to kabul. scenes across the city quite eerie. u level up u won't take a time-out one dose of ubrelvy works fast it can quickly stop migraine in its tracks within 2 hours without worrying if it's too late or where you are unlike older medicines, ubrelvy is a pill that directly blocks a protein believed to be a cause of migraine. do not take with strong cyp3a4 inhibitors. most common side effects were nausea and tiredness. migraine pain relief starts with u learn how abbvie c

when you see that letter come in i.r.s. audit notice, it sends your blood pressure through the ceiling. >> harris: your reaction. >> wealthy corporations and individuals definitely have the means to protect themselves against intrusive audits and other regulations that come from the federal government. it is ludicrous to say it is only for billionaires. it is average americans orchestrated campaign to target americans and have the federal government be at war with those americans. it is interesting that this so-called inflation reduction act. a poll showed only 15% believed it would reduce inflation. that makes sense. there is nothing in the bill that would reduce inflation. >> harris: real quickly, how does this play politically going in 84 days into the mid-term elections? people are fearful of this. it is tied to their bottom line. how does that play for the people on the left who think this is a good idea to hire all those agents? the amount of ammo they will have, 5 million rounds lock and load. >> it points to the dif

the things that is important in this case, the cbo says 90% of the revenue generated from the new i.r.s. agents will come from people making less than $200,000. that is absolutely the exact opposite of what you just heard. under $200,000 represents 90% of the revenue generated. the revenue generated is around

>> it is very clear the i.r.s. commissioner was very clear on this saying on the record that this only will -- it will only apply to those earning over $400,000. >> karl rove op-ed says the truth is buried behind some confusing language. he writes it is clear what the administration was saying. more households of all income will be audited. more than 95% of all audits of individual returns have been of households earning less than $200,000. if the i.r.s. honor its word. whether people who earn less than $400,000. the white house says they aren't. they haven't laid out the mechanism by which they'll guarantee that doesn't happen. they have not shared the details with us. >> there was a way to guarantee it wouldn't happen. remember when this was debated on the senate floor and there was an amendment by senator from idaho, republican senator saying okay, let's have an amendment that says nobody who makes less than $400,000 will be audited with the new money. the interesting thing, every single democrat, every one of t

all the refunds will cost the i.r.s. more than $1 billion. the i.r.s. help families get a little relief and the bureau says it is inundated with a backlog of unprocessed tax returns and could help relieve that a bit. taking a live look at the stock exchange, slightly down 40 points. kumasi: on the peninsula of san mateo grand jury is calling for six cities to come up with permanent regulations for outdoor dining. the jury's report says a lack of rules left business owners in limbo. business owners in buehrleinggame say the parks they built have been helpful. the city leader says they should make it easy for business owners. >> for us as policymakers to not sport these parklets would be a affront to the business owners and a slap in the face. kumasi: not everyone is onboard with keeping the parklets permanently and some residents would like the streets to go back to car parking. reggie: have you ever dreamed of working with the warriors? here's your chance. the team is holding a job fair with all kinds of openings from guest experiences to arena operatio

thousands of i.r.s. agents. not police officers, i.r.s. agents to go after american taxpayers. that's what they're going to go after. i promise you and i regret to say it that a lot of hardworking people are going to get letters in the nails, we want to a talk but -- to talk but about taxes from five years ago. you don't have an army of lawyers, you will pay them what you have -- you don't want trouble with the i.r.s. that's what this bill is. and they cynically call it the inflation reduction act. and let me tell you why they call it that. this is sad and outrageous. they call it that because, i'm telling you, and i hate to say it, but a lot of people behind this kind of stuff, they see hardworking americans as a bunch of uneducated simpletons who will fall for this and the media will help them. not all the media but a lot of reporters will help them. even though the reporters themselves keep calling it a climate bill because they're so giddy about that part of it. they think people will fall for it. people are not going to fall for it. i don't care how smart you think you are

the i.r.s.eduction act, to give them $80 billion more. >> joe: i'm surprised he didn't say seize or pounce, usually the more common words used in these situations, the irs is being expanded in a significant way. no one never said i want to see more irs in our lives when you look at nonpartisan analysis and glen kesler is anything but nonpartisan. people in middle and lower class will be targeted most under this new irs and have strange feeling this will backfire on the democratic party who think this is good idea to hire the agents. >> todd: when you hear joe concha, you think media excellence. thank you. >> joe: never gonna give you up, never gonna let you down at this time in the morning. >> todd: justice department has seven days to submit redacted version of the trump raid affidavit to a judge who says he is inclined to release part of it. will we get answers on the rock america? we've live with lara trump. brian kilmeade, good morning. >> brian: our homes were not raided, if they were, i'm

the i.r.s. is massive expansion adding 87,000 new agents.r them. >> a senator said why don't we have a rule that the extra 87,000 i.r.s. agents won't audit people with incomes below 400,000? every democrat voted against that amendment. >> interesting to see if hiring the new agencies and expanding the government if the biden administration will be able to win over americans skeptical that big government actually helps things. >> dana: the answer to every problem that they have is hire more people. i.r.s., they are hiring everybody but border patrol agents. hillary vaughn. thank you. >> bill: the new clothing line by the rapper kanye west getting major criticism. they are selling the clothes out of bags and critics say he is mocking the homeless. this is kat timpf to talk about it. tie this all together here. eric shawn said it is not garbage bags but construction bags. >> do i want to go shopping and hum -- rummage through bags? this is kanye, he has different ideas that are different. i don't know why people bother with backlash when it com

doubles the number of i.r.s. audits.usiness person is saying oh how do i prepare for that? it has a manufacturing tax that causes the national association of manufacturers says it will cost hundreds of thousands of jobs in manufacturing. companies are already figuring out how they will deal with it. this tax was so bad when it was adopted in 1986 it was so counterproductive congress abolished it three years later and now we go back and do the same stupid thing all over again. green new jobs. the bill is written in such a way if you are a non-union company you really can't compete for those kind of grants and that kind of business. and now we'll have employers in that sector telling their employees you know what? there is a bunch of money out there. subsidies for green energy projects but designed to benefit union workers rather than non-union workers we won't be able to compete for that business. that is happening now. the benefits such as they are, price controls on drugs. 10 of them starting in 2026. how is that going

the i.r.s. to increase enforcement. the i.r.s. explained their new enforcement powers to corporations with this instructional video: ♪ better have my money ♪ ( cheers and applause ) >> stephen: no one was happier to get the bill passed than senate majority leader and man using his super powers to warm his coffee, chuck schumer. schumer gave a press conference following the vote, and he said this of the victory: >> as you know, it's been a long, tough, and winding road. >> stephen: ah yes, the long, tough, and winding road. it's everyone's favorite beatles song, next to a "hard day's very difficult nighttime." schumer praised the hard work of senate democrats: >> i just want to again thank the leadership, hard work, and persistence of all of my colleagues, their teamwork, their spirited teamwork. their knowledge that we had to pull together to get something done is awesome to me. not awesome in the way the kids use the word but in the sort of biblical sense. >> stephen: (as schumer) "yes, this bi

the democrats' massive i.r.s. expansion will be front and center.like everybody agrees on that. plus los angeles prosecutors hitting back against progressive district attorney george gascon as crime rates continue to soar. >> a lot of people reaching out to me saying they're being harassed in the workplace. >> harris: raymond arroyo in "focus" next. more cash, more savings, more peace of mind. the newday 100 va loan lets you borrow up to 100% of your home's value. up to $60,000 or more. veterans are saving an average of $615 every month. with more ways to help more veteran families, no bank, no lender, no one knows veterans like newday usa. i am robert strickler. i've been involved in communications in the media for 45 years. i've been taking prevagen on a regular basis for at least eight years. for me, the greatest benefit over the years has been that prevagen seems to help me recall things and also think more clearly. and i enthusiastically recommend prevagen. it has helped me an awful lot. prevagen. healthier brain. better life. ♪ ♪ ♪ ♪ ♪ ♪ >> ha

a big boost in funding for the i.r.s., and there was a $14 billion plan to change how investments werevestment funds. but that's been eliminated. senator sinema wanted it out. what's all the money for? partly for climate change investments, including making it easier for people to buy electric cars. expanding access to the affordable care act and health insurance, and an attempt to lower prescription drug costs. but this bill is a fraction of the original multitrillion-dollar plan president biden pitched last year. if they get it, it's a big win for president biden and for all those men and women in the blue seats, margaret. >> brennan: indeed it will be. we'll be tracking that. thank you so much, scott. tonight, a line of severe weather is moving across the country from the ohio valley to the northeast. heavy rains ri threats of flash flooding, strong winds and dangerous lightning. kentucky is also bracing for more rain in an area already night outside the white house.at justin michaels from our partners the weather channel report. >> reporter: the lightning bolt split the sky, striki

for entirely with a 15% minimum tax on corporations, taxing of stock buybacks, and investing in the i.r.s. to go after large corporations and wealthy individuals who cheat on their taxes. as president biden promised, it will not raise taxes on any family making less than $400,000 a year. we are at the progressive caucus heart broken to see investments in care, in housing, immigration, work force and more left on the cutting room floor. and it's particularly outrageous that congress was poised to cut the cost -- cap the cost of insulin for everyone who had insurance at $35 a month, until republicans stripped it from the bill. we expect this bill to pass without a single republican vote. even though the legislation is supported by nearly three out of four americans across the political spectrum. i am so proud of the role that the progressive caucus played in this fight. from the beginning, progressives have fought tooth and nail to advance the full scope of the president's economic agenda. and let's be clear. we are here because progressives have the mind to turn that agenda into a house-pa

climate, minimum tax raising $313 billion in 10 years, democrats expect to add 124 billion by bolstering i.r.s. tax inforcements. democratss -- government work for families again and this is what this bill does, period. republicans say the end of the sentence is not entirely true there. daniels stated this, democrats will pay the price in november for raising taxes on families during recession. john kennedy called the bill's key negotiator out by name. >> joe-flation, as some people call it, will refer to joe manchin, not president biden. it takes a special kind of stupid to raise taxes during both a recession and inflation. >> alexandria: the bill heads to the house, majority is all that is needed to pass. >> ashley: earlier kentucky congressman james comer says gas lighting americans by naming the bill the inflation reduction act. >> the democratss are banking political future this fall in the hope america is financially illiterate. i don't think they are, most americans realize if the government spends more money and spends recklessly and unnecessarily, that leads to more inflation. the she

when he was reporting his taxes to the i.r.s., suddenly he was like, "i ain't got no money, sir."this investigation, the new york attorney general has already questioned trump's beloved children-- and also, eric. but today-- ( applause ) today it was the donald's turn to go under oath. and i'll give credit to the man. you know, he could have bitched out, but, no, he stood tall, and he walked into that interrogation room, and then bitched out. ( laughter ) >> former president donald trump says he has invoked his fifth amendment right against self-incrimination, refusing to answer any questions in his deposition before the new york attorney general, letitia james. in a statement, trump says he had no choice, because he and his family are the targets of what he called an unfounded, politically motivated witch hunt. trump was set to testify under oath about his business practices, but faced with those questions, he's decided not tatalk. >> trevor: trump decided not to talk? ( laughter ) i mean, now we know something shady is going on, right? when has donald trump ever refused to talk.

let's beef up the i.r.s. and get more agents instead of taking care of the tax code. in the long run it will cost students more. the kids that are approaching college now i fear for them even more than the ones trying to pay back these loans because tuition costs will little rock higher. >> it's nuts as a parent with three kids that went to college. government updating numbers on a key indicator of economic groefmgt it shows the economy shrank at .6% annual rate. slightly better than the original estimate, 9/10% but style negative back-to-back quarters of gdp contract shurntion which is a recession. and the new survey shows a huge concern for americans now preparing for this extended downturn potentially. what do you make of this adjustment on the number? >> a slight adjustment but depends -- i say it tongue in cheek how you define recession. the white house doesn't like two consecutive quarters of negative growth but that has been what indicates we'll see head winds going forward. all ceos in the earnings guidance bringing down estimates are saying it will be rough a

adding i.r.s. agents and increasing tax enforcement and eliminating the carried interest loophole. when you look inside the tax increases it won't only affect the people making more than $400,000 a year. the joint committee on taxation says the tax collection by 2023 would come from people making less than $200,000 a year and people making between $200,000 and $500,000 a year. senator manchin argues it is a good bill now. >> this is a piece of legislation that's an investment. we have taken 3.5 trillion in spending that was aspirational spengd my colleagues wanted to do on the democrat side and taken it down to a $400 billion investment. we aren't sending a check to anybody. >> representative roger williams, a republican and car legalership owner says the bill would slow down an economy already in a recession. >> businesses don't say they spend and grow the economy. they will be saving money. they will eliminate payroll, save money to pay taxes and it's really going to destroy our economy and make it harder and harder to come back. >> talking about small businesses and large busine