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>> carley: that's where i spend all my money. the president is expected to sign inflation reduction act today, which really is a climate change and health care spending bill the way the democrats plan to pay for it. increased taxes pretty much across the board to purity $52 billion more on income taxes on midsized in family businesses corporate income tax of 15%. and $225 billion in stock tax and raise $74 billion. how with his plate among the american people long term, congressman? >> it's not going to play well. it is called the inflation reduction act because more government spending leads ...

Legislation. >> we are feeling pretty good. >> he cut a deal with the loan hold out for it she refused to support what they called the attacks louisville. >> the senator said she bill would not proceed unless and leslie tickets up. >> but deport progressives, the slap $74 billion in new taxes o firms which buy back their own stocks preferably can say moderates caved to the left, republicans are making things personal targeting the duo with appealing with the border and gas prices. at this weekend's marathon both. >> so what will it be like? >> it will be like hell. they deserve this. these are...

Saturday in d.c.? >> good morning katie, that would be an understatement. lawmakers have been working on this bill for over a year and there are a lot of components that have changed and shifted. the part of the bill is the same. take a look at what is in, it tax reform, climate investments, deficit rejection, drug price and reform and health, care subsidies. the bill has change in recent weeks due to opposition from kyrsten sinema, and negotiated some concessions from the majority leader, schumer. what is out an accelerated depreciation component of the corporate tax action. as well as the ca...

Reconciliation bill. >> ruled out of order, a rebate for inflation under medicare. ruled in order, a $74 billion excise tax for firms when they buy back their own stocks. >> i hate stock buybacks, i think they're one of the most self-serving things that corporate america does. they're december despicable, i'd like to abolish them. >> and democrats are able to move because kyrsten sinema and joe manchin. >> and i told them thank you for holding the line on the senate filibuster, thank you for doing things to make america the less radical place, but you're going to be held accountable by your vo...

More than 200 economists warn congressional leaders that the u.s. is in a dangerous crossroads. they argue the bill increases inflation. senate majority leader chuck schumer does not mince words. >> considering how high -- >> they are wrong. i don't know who that list was for the overwhelming majority of those who have looked at this. the public and economist. they have said it will do reduce inflation. it will. >> after days of talks, kyrsten sinema signal she will move forward on the tax and spending bill. democrats agreed to drop a provision to tax carried interest to get kyrsten sinema's v...