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NEW YORK CITY – Voters for Rep. Alexandria Ocasio-Cortez explained how Democrats removed a proposed tax hike affecting billionaires from the Cut Inflation Act in order to push through the massive spending bill and its climate initiatives.
“Billionaires are the people who have the power to really change everything that we try to change,” one man, Daniel, told Fox News. “We shouldn’t vote for if it’s something that’s not addressed.”
But another man, Paul, said: “Passing an environmental bill – anything that would contribute to climate change, I’m all for. If the rich get a break, that’s fine.
The Senate on Sunday passed the Democrats’ Cut Inflation Act, a $433 billion spending bill that included $369 billion in spending on climate initiatives while imposing a 15% minimum tax on companies making more than $1 billion in annual profits. At one point, the legislation included language that would have effectively raised taxes on the nation’s wealthiest by changing the carried interest rules, but was removed to secure Senator Kyrsten Sinema’s vote.
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“The whole bill is a mess,” one man, Tom, told Fox News. “It’s a feel-good bill so Democrats can say they did something and maybe they won’t do it so badly in the next election.”
“There are things in the tax code that allow people to undo various things, so what are you going to do?” he said.
Daniel said Democrats should vote against the bill until the deferred interest provision is reintroduced.
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“If they don’t pay their share … I think that’s definitely something that needs to be changed in the bill,” Daniel told Fox News.
Another man, Zion, was skeptical of what the bill could actually accomplish.
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“I don’t really trust anything the government is doing on climate or anything really,” Zion told Fox News. He added that politicians have already “disappointed humanity” with their inaction on climate change over the past two decades.
Sen. Bernie Sanders of Vermont and Sen. Elizabeth Warren of Massachusetts, both liberals with a history of finding financial “loopholes,” voted for the Cut Inflation Act. Ocasio-Cortez, known for her aggressive stance on raising taxes on billionaires, is expected to vote on the bill on Friday.
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“Climate change is something that has been ignored for far too long,” Max told Fox News. “If there are places where you have to compromise to get the changes done efficiently and quickly, I think that’s just something we have to do now.”
Zion said he had lost faith in the government’s ability to help the average American.
“It will always be for the betterment and protection of people who have higher social and economic status than people like me and people who reside in this area,” he said.