To provide a short title for the law commonly referred to as the "Inflation Reduction Act".
Impact
If enacted, HB9798 would mainly serve a symbolic role by altering the public perception of the Inflation Reduction Act. The title change could affect how the legislation is discussed in public and political arenas. Critics argue that renaming the act adds little in terms of substantive policy change but could aid in galvanizing political opposition. Supporters of the renaming effort may argue that it reflects a necessary truth regarding the act's perceived failures in combating inflation and ensuring energy independence.
Summary
House Bill 9798 proposes to amend the Inflation Reduction Act by providing it with a new short title. The new title suggested is the ‘Lied about Inflation and Energy Dependence Act of 2022’, abbreviated as the ‘LIED Act of 2022’. This reflects a shift in how the legislation is perceived, highlighting a critical stance on the original act's efficacy in addressing inflation and energy issues. By renaming the act, the bill aims to better encapsulate the sentiments of its critics, suggesting that the act's implementation has been misrepresented.
Contention
The contention surrounding HB9798 largely stems from the political debate over the original Inflation Reduction Act. Detractors of the bill argue that the proposed new name misrepresents the intentions behind the original legislation and serves more as a political maneuver than a constructive change. This reflects broader issues regarding political discourse and how legislative titles influence public opinion. The shift in title is framed as an opportunity for political opponents to redefine narratives surrounding legislative efforts.
Family and Small Business Taxpayer Protection Act This bill rescinds unobligated funds that were provided by the Inflation Reduction Act of 2022 to the Internal Revenue Service (IRS) for enforcement activities related to the determination and collection of taxes, for operations support for taxpayer services and enforcement activities, and for a task force to research options for a free, direct electronic filing (e-filing) tax return system. The bill also rescinds unobligated funds that were provided by the Inflation Reduction Act of 2022 for expenses of theTreasury Inspector General for Tax Administration,Office of Tax Policy,U.S. Tax Court, andoffices within the Department of the Treasury that provide oversight and support for the IRS.
RETIREES FIRST Act Reducing Excessive Taxation and Inefficiencies by Reforming Elder Exemptions to Support Fairness, Inflation Relief, and Simpler Taxes Act