J.D. Vance: Tim Ryan Failed to Defy Democrats, Voted to Take $20B from Working Class with IRS Audits
Republican J.D. Vance, running for Ohio’s open United States Senate seat, says opponent Rep. Tim Ryan (D-OH) failed to defy the Democrat Party when he supported taking $20 billion from working- and middle-class Americans via new Internal Revenue Service (IRS) audits.
During Monday night’s debate, Vance ripped Ryan for voting with House and Senate Democrats to support President Joe Biden’s “Inflation Reduction Act” which includes $80 billion for the IRS to target mostly working- and middle-class American households, squeezed by inflation, with more audits.
“You’ve voted to raise taxes by $6.7 trillion — 113 times — and just a few weeks ago in the Inflation Reduction Act itself,” Vance said. “It raises taxes by $20 billion on working people in this state and in this country and sicks 87,000 IRS agents to go after them.”
As Breitbart News chronicled, 78 to 90 percent of the taxpayer money raised via new IRS audits and investigations as a result of the Inflation Reduction Act will come from American households earning less than $200,000 a year. Meanwhile, just four to nine percent is expected to come from households earning more than $500,000 a year.
The Congressional Budget Office (CBO) estimates that at least $20 billion will be taken from working- and middle-class Americans earning less than $400,000 a year as a result of the increased IRS audits.
John Binder is a reporter for Breitbart News. Email him at jbinder@breitbart.com. Follow him on Twitter here.
IS GAMER LAWYER HUNTER BIDEN SELLIONG HIS 'ART' TO CHINA AS A WAY TO SIPHON BRIBES TO THE 'BIG GUY' JOE???
American people deserve to know what China was up to with Joe Biden, especially when Beijing had already shelled out millions of dollars to Biden family members — including millions in set-asides for “the big guy.” What else is on that infamous Hunter Biden laptop? The conflicted Biden Justice Department cannot be trusted to engage in any meaningful oversight on this issue. We need a special counsel now.
TOM FITTON - JUDICIAL WATCH
The level of 'corruption' in our government is 'unacceptable': JD Vance
https://www.youtube.com/watch?v=mpa0w4A87Ao
THE BIDEN CRIME FAMILY
Axios Fact Checks Democrat Tim Ryan: Republican J.D. Vance Never ‘Invested into China’
Establishment media outlet Axios on Monday fact checked Rep. Tim Ryan (D-OH), who attacked opponent J.D. Vance (R) during last week’s debate for “investing into China.”
During the debate, Vance confronted Ryan for his political attack ads claiming he is a “San Francisco vulture capitalist,” in addition to Ryan’s claims that the Republican “invested into China.”
Without being able to point to any investments Vance made into China, Ryan said, “The problem is… Because of guys like you, J.D., who make money off of investing into China. He, in his first venture capital fund investments, invested in China.”
When Vance asked “which company” Ryan was talking about, the Democrat uttered, “The one that ships jobs, ships jobs to China to manufacture things. … I’m telling you, J.D., you’ve not denied investing into China.”
Watch the exchange:
Despite Ryan’s efforts to try to attack Vance, Axios reported that “Ryan couldn’t stick the landing” of his attacks that Vance ‘invested into China,’ not being able to name the company to which he was referring” because “Vance never backed a China-based company via his venture capital funds, per a review of the records.”
The report further explained:
- Instead, Ryan apparently was referring to two companies on Vance’s financial disclosure forms that source some equipment and/or products from China, both tied to Revolution’s Rise of the Rest Seed Fund (which Vance joined in 2017 and left two years later to launch his own firm).
- But that’s a bit like saying an investment in Ford Motor Co. is “investing in China,” because Ford sources some EV battery packs from Chinese suppliers. Moreover, one of the two investments was made by Revolution co-founder Steve Case before Vance even joined the firm, but got rolled into the fund as a contributed asset. The other is a Salt Lake City-based apparel maker that has around 22% of its products made in Shanghai and Tianjin factories (the investment was made shortly before Vance left Revolution) [emphasis added].
In response to the Axios report, Vance’s campaign spokesperson told Breitbart News, “Fifty thousand jobs have disappeared from the Mahoning Valley since Tim Ryan took office twenty years ago. Drug overdoses are up, and household incomes are down. Tim can’t run on his own record, so he has to fabricate lies about JD Vance. If this is the best Tim Ryan’s got, you know he’s really in trouble.”
Jacob Bliss is a reporter for Breitbart News. Write to him at jbliss@breitbart.com or follow him on Twitter @JacobMBliss.
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