Silver State Times

The Democrats' Inflation Reduction Act is opposed by a majority of Americans, according to a recent poll.

Nevada Democratic Sen. Catherine Cortez Masto was one of the 51 Democrats who voted in favor of the bill in August.

A recent Senate Opportunity Fund poll surveyed Americans' opinion on the Inflation Reduction Act, which according to nonpartisan analysis, will raise taxes on nearly all working Americans. Knowing that the average household will pay over $2,120 more in taxes, 66% of Americans are against the bill.

"NEW @SenOppFund poll: 66% of Americans are AGAINST the average American household's $2,120 tax hike provided by the Democrats' Inflation Reduction Act," Vice President of Tag Strategies Erin Perrine said on Twitter.

The SOF poll also shows that 68% of Americans do not think President Joe Biden and Congressional Democrats are doing enough to stop inflation. This includes 43% of liberal voters and 67% of moderate voters.

The poll was conducted from Aug. 11 to 14 and surveyed 800 likely voters in the general election.

According to a Joint Committee on Taxation analysis, taxes under the legislation will increase by $16.7 billion in 2023 for taxpayers earning less than $200,000 —a nearly $17 billion tax targeted solidly at low- and middle-income earners, amidst stagflation. The 10-year window will increase the average tax rate for nearly all income categories. Further, by 2031, Americans earning less than $400,000 are projected to bear as much as two-thirds of the additional tax revenue.

The JCT analysis also shows that any supposed tax credit benefits only outweigh the tax hits for a small portion of the population. Even for the sliver of people who do receive a small benefit, significantly larger portions of American taxpayers would face the burden of a tax increase.

Nonpartisan research shows that in 2023, tax increases would happen for 24.6% of taxpayers earning between $10,000 and $20,000; 61.7% of those earning between $40,000 and $50,000; 91.3% of those earning between $75,000 and $100,000; and 97.2% of those earning between $100,000 and $200,000.