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Former Treasury secretaries backing Inflation Reduction Act ...Middle East
Five former Treasury secretaries on Wednesday signed a statement backing the Inflation Reduction Act, pushing back against the claim that the reconciliation bill will raise taxes on Americans who make under $400,000 a year. The former Treasury secretaries, both Republicans and Democrats, said the legislation is "financed by prudent tax policy that will collect more from top-earners and large corporations," according to the letter, which was obtained by Axios. "Taxes due or paid will not increase for any family making less than $400,000/year," the letter reads. "And the extra taxes levied on corporations do not reflect increases in the corporate tax rate, but rather the reclaiming of r
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