PRESS RELEASE

Little Rock: The Arkansas State Chamber/Associated Industries of Arkansas released a statement today regarding the passage of the Inflation Reduction Act pending in the U.S. House of Representatives.

The bill received partisan approval in the Senate this weekend, passing with a vote of 51-50, including Vice-President Harris’ tie-breaking vote.

“This bill is a true Trojan- Horse with long-range negative effects on U.S. business and consumers as well. Chief among the misdirections in the bill are the minimum corporate tax to be imposed on large businesses and the drastic increase in the size of the IRS agency,” said Randy Zook, president and CEO of the Arkansas State Chamber/Associated Industries of Arkansas.

“We are continuing to study the bill and expect to find more egregious matters in the fine print,” Zook said. “For now,” he added, “we have found plenty of reasons to oppose the bill and urge Arkansas’ Congressmen to follow the example of our Senators and say no to this overwhelming and incredibly costly bill.”