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Grassley suggests Inflation Reduction Act would be harmful to agriculture

A U.S. Senator who voted against the Inflation Reduction Act suggests the bill would be detrimental to the ag economy.

Iowa Republican Chuck Grassley says he believes the legislation would make inflation worse by spending money and raising taxes.

“Just think of what farmers have to buy from John Deere and all the other agricultural implement dealers. they want you to believe you’re taxing corporations, but corporation is just a sheet of paper.”

He says the bill would make it more expensive to farm.

“And corn is not at the highest price it’s been, and if we don’t get $7 corn with this high price of inputs to agriculture, and this bill isn’t going to help any of that, it’s going to hurt American agriculture.”

The Inflation Reduction Act passed on a party line in the Senate and the House is expected to vote on it after returning from summer recess.

Grassley made these comments during his weekly call with reporters.