Oil and gas lease approved. Largest sale in history. Inflation Reduction Act reinstates sale spanning 80.8 million acres

Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • Biden approves largest oil, gas lease sale in US history, steamrolls eco review with inflation bill
  • The Inflation Reduction Act reinstates Lease Sale 257, an oil and gas sale spanning 80.8 million acres across the Gulf of Mexico
  • “Congress has acted, the leases must be issued, and the lawsuit must be dismissed,” he continued.
  • In November, the DOI held the lease sale which generated more than $191 million in bids for 308 tracts from fossil fuel companies despite criticism from several prominent Democratic lawmakers and environmental groups. However, a federal court blocked the sale in January ruling in favor of a coalition, led by Friends of the Earth and the Sierra Club, that argued the Biden administration failed to properly analyze the climate impacts of the sale.

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Inflation Reduction Act expanded IRS budget by 600%. Some claim this investment will bring in more than $200 billion in revenue. But from who?

  • An IRS Army of 87,000 New Enforcers and ‘700,000 New Audits’ on Middle-Class Americans?
  • $80 billion to expand the IRS, including tens of thousands of new IRS enforcers
  • The bill is set to more than double the IRS’ current workforce, making it one of the largest federal agencies and increasing its budget by roughly 600 percent.
  • “Democrats claim this ‘investment’ will yield more than $200 billion in revenue. That estimate is highly speculative, but if it’s anywhere close to right, IRS auditors will soon be coming after tens of millions of Americans.”
  • “Democrats want to make the IRS larger than the Pentagon, the State Department, the FBI, and the Border Patrol combined,” Cruz wrote. “That’s a terrible idea. We should abolish the IRS!”
  • And Joel Griffith with the Heritage Foundation confirms, “If you look at the past, the audits disproportionately impact those that are middle class, upper middle-class income earners. Those are the ones who get targeted by this.”
  • The Wall Street Journal makes it clear that’s a legitimate concern for the middle class, writing, “The Joint Committee on Taxation, Congress’s official tax scorekeeper, says that from 78% to 90% of the money raised from under-reported income would likely come from those making less than $200,000 a year. Only 4% to 9% would come from those making more than $500,000.”

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