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huh? capital t for thing. hundreds of billions for climate change. deficit reduction and tax hikes. it could also turbocharge the i.r.s. more on that in a moment. >> dana: democrats named it the inflation reduction act. republicans say it's laughable and not even bernie sanders is buying it. >> i want to take a moment to say a few words about the so-called inflation reduction act that we are debating this evening. i say so-called, by the way, because according to the cbo and other economic organizations that have studied this bill, it will, in fact, have a minimal impact on inflation...

democrats wasted no time taking a bow. >> at last we have arrived and we are elated. every member of my caucus is elated about what happened because we really have changed the world in a way that you rarely get an opportunity to do that. it is going to make a difference to my grandkids. the world will be a better place for my grandchildren because of what we did today. >> harris: many economists paint a very different picture from he just said calling the inflation reduction act saying it will do exactly the opposite and republicans are warning the legislation will wind up raising ta...