FACT CHECK: “Inflation Reduction Act Would Raise Taxes, but Not on Most Minnesotans”

Multiple sources debunk Tyler Kistner’s claim that historic Inflation Reduction Act would raise taxes on the middle class

Burnsville, MN –– No matter how much GOP Congressional candidate Tyler Kistner tries to mislead Minnesotans, the Inflation Reduction Act will not raise taxes on middle class Americans.

According to multiple sources, most recently the MinnPost, the Inflation Reduction Act would only raise taxes on large corporations and those using Wall Street loopholes. If Kistner is concerned about tax hikes from this bill, he is defending corporations and wealthy stockholders.

“Minnesotans deserve better than Tyler Kistner’s lies about the Inflation Reduction Act, but I guess you shouldn’t expect much from the person who called rising costs ‘something every Republican is benefiting from,’said Angie Craig for Congress spokesperson Laura Cottrell. “The Inflation Reduction Act will help bring costs down without ever raising taxes on middle class Minnesotans, and Angie is working in Congress to get it across the finish line.”

MinnPost: “Inflation Reduction Act would raise taxes, but not on most Minnesotans.”

Associated Press: “Republican politicians and candidates are distorting how a major economic bill passed over the weekend by the Senate would reform the IRS and affect taxes for the middle class.”

Newsweek: “The fact remains that if the bill passes, taxes are not going to increase for people earning less than $400,000, meaning the government can confidently say it has not broken its manifesto pledge.”

New York Magazine: “The plan in fact raises taxes only on corporations with an income over $1 billion. It does not raise taxes on individual taxpayers at all.”

The U.S. Senate recently passed the Inflation Reduction Act of 2022, including several of Rep. Angie Craig’s priorities:

  • Enacting historic deficit reduction tactics to fight inflation and get the economy back on track.
  • Expanding access to affordable health care for working families.
  • Lowering prescription drug costs by allowing Medicare to directly negotiate drug prices.
  • Investing in homegrown biofuels and supporting Minnesota family farmers.
  • Bringing energy bills down for Americans and boosting affordable renewable energy sources.