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OPINION: New U.S. Inflation Law is Misguided and Disastrous
The worst impulse of career politicians in Washington, D.C. is to throw money at a problem without having any idea of how to fix it. Last year, the Democrats rushed through a $1.9 trillion boondoggle spending bill, one of the largest in U.S. history, without any Republican support or input. Earlier this year, the nonpartisan […]
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The worst impulse of career politicians in Washington, D.C. is to throw money at a problem without having any idea of how to fix it.
Last year, the Democrats rushed through a $1.9 trillion boondoggle spending bill, one of the largest in U.S. history, without any Republican support or input. Earlier this year, the nonpartisan Congressional Budget Office determined that the bill contributed to the record-high inflation Americans are experiencing now. Unfortunately, the Democrats, driven by far-left socialist authoritarians, have not learned their lesson.
The Democrats’ solution to the nightmare we are suffering under today, which was caused by out-of-control government spending and a war on reliable energy production, is even more inflationary spending and increased barriers to affordable American energy. With energy prices already at record highs, the [legislation, which Democrats are calling the Inflation Reduction Act of 2022] will raise taxes on American energy production by $12 billion and will harm access to reliable energy — a necessity for growth, prosperity, and to emerge from today’s stagflation.
As Americans are already struggling to make ends meet, this misguided [new law that passed on Aug. 12] will raise taxes on earners making less than $400,000 by $16 billion, breaking yet another one of Biden’s promises. With small businesses pinching every penny just to keep their doors open, this [legislation] will raise taxes by billions of dollars on nearly 5 million of America’s small businesses, harming job creation and productivity. Small businesses are the lifeblood of our communities across America, especially in upstate New York, where entrepreneurs, sole proprietors, and family farms dominate the landscape.
At a time when Americans are rightly worried about the weaponization of the federal government against a former president, this [new law] will hire 87,000 new IRS agents to target 710,000 Americans making less than $75,000 per year. This is not “progress.” This new politically charged Democrat “militia,” which will make the IRS roughly the size of the U.S. Marine Corps, will not only be armed to intimidate and undermine the rights of already beleaguered taxpayers, but it will also exacerbate the economic disaster that Biden and the Democrats have thrust upon American citizens with their extreme tax and spend policies.
Some of the other worst provisions in the Democrats’ law [which I am calling the Inflation and Recession Act] include the following:
• Reduces Medicare spending by more than $200 billion to pay for [green policies];
• Gives $80 billion to the IRS, allowing the agency to hire 87,000 new agents;
• Destroys retirement security by instituting a stock-buybacks tax that will harm seniors and other savers who invest in a 401(k) the most;
• Institutes a drug-pricing scheme that will crush American innovation, leading to the development of as many as 342 fewer new drugs….; and
• Budgetary gimmicks to hide the true $248 billion cost of permanently extending Obamacare subsidies.
Rep. Claudia Tenney (R–New Hartford), 61, currently represents the 22nd Congressional District of New York in the U.S. House of Representatives. The district encompasses all of Oneida, Madison, Chenango, and Cortland counties, most of Broome County, and portions of Herkimer, Oswego, and Tioga counties. This article is drawn and edited from a statement that Tenney issued on Aug. 12.

Dannible & McKee, LLP recently announced the promotion of the following professional staff members. ABBY K. SWEERS has been promoted to tax manager. She joined the firm in 2019 after interning in 2017 and 2018. Sweers graduated with a bachelor’s degree in accounting and an MBA from Le Moyne College in 2018. She is responsible
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Dannible & McKee, LLP recently announced the promotion of the following professional staff members.
ABBY K. SWEERS has been promoted to tax manager. She joined the firm in 2019 after interning in 2017 and 2018. Sweers graduated with a bachelor’s degree in accounting and an MBA from Le Moyne College in 2018. She is responsible for the preparation and review of various individual and corporate tax engagements, including tax planning and compliance. Sweers, a CPA, specializes in the construction and manufacturing industries, along with multi-state entities and high-net-worth individuals.
ALEXIS M. LAYO has been promoted to tax supervisor. She joined the firm in 2013. Layo graduated from Niagara University with a bachelor’s degree in accounting in 2011 and from Le Moyne College with an MBA in 2012. She is responsible for overseeing various individual and corporate-tax engagements, including tax closings, tax planning, and compliance. Layo specializes in the architectural/engineering and health care industries, along with high-net-worth individuals. She is also a QuickBooks ProAdvisor.
CHRISTINE N. PETRONE has been promoted to accounting services supervisor. She joined the firm in 2016 and is responsible for managing multiple client accounts. Her services include accounts receivable, accounts payable, bank and investment account reconciliations, tracking assets and recording accumulated depreciation, preparing budgets and accrual-basis financial statements in accordance with GAAP, and maintaining accounting controls by preparing and recommending policies and procedures. Petrone is also a QuickBooks ProAdvisor. She graduated from Cazenovia College in 2013 with a bachelor’s degree in professional studies in business management and holds a certificate in management and supervision.
NATHAN T. MERULLA has been promoted to audit senior. He joined the firm in 2020 as a full-time employee after working as an intern the year prior. Merulla, a CPA, is responsible for performing audits, reviews, compilations, and employee-benefit plan audits. He graduated from SUNY Geneseo with a bachelor’s degree in accounting in 2019 and a master’s degree in accounting in 2020.
JAKE N. PIEKLIK has been promoted to audit senior. He joined the firm in 2020 as a full-time employee after working as an intern the year prior. Pieklik, a CPA, is responsible for performing audits, reviews, compilations, examinations and employee-benefit plan audits. He graduated from Onondaga Community College with an associate degree in 2017 and from SUNY Oswego with a bachelor’s degree in accounting in 2019 and MBA in 2020.

Fust Charles Chambers LLP, a certified public accounting firm in Syracuse, has hired JOSHUA POSNICK as an audit associate to help service the firm’s manufacturing, health care, not-for-profit, and other professional service and family-owned businesses. He received his bachelor’s degree in public accountancy and finance from SUNY Fredonia. He is currently working to complete the
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Fust Charles Chambers LLP, a certified public accounting firm in Syracuse, has hired JOSHUA POSNICK as an audit associate to help service the firm’s manufacturing, health care, not-for-profit, and other professional service and family-owned businesses. He received his bachelor’s degree in public accountancy and finance from SUNY Fredonia. He is currently working to complete the examination requirements to earn his CPA license.

ABC Creative recently hired ATO ARKHURST as a web developer. He brings a strong background in coding to ABC Creative’s Web Department. Prior to joining ABC, Arkhurst grew his experience in web development with a mix of retail and app projects. The collaborative environment drew him to ABC, where he looks forward to growing his
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ABC Creative recently hired ATO ARKHURST as a web developer. He brings a strong background in coding to ABC Creative’s Web Department. Prior to joining ABC, Arkhurst grew his experience in web development with a mix of retail and app projects. The collaborative environment drew him to ABC, where he looks forward to growing his varied skillset. Arkhurst holds a degree in computer science from SUNY Oswego.

GEOFFREY RISPOLI, based in upstate New York, has recently joined City National Bank as senior VP of commercial banking in the upstate region. Rispoli brings a wealth of experience with more than 18 years of international commercial-banking experience, including serving in leadership positions at HSBC, KeyBank, and Citigroup.
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GEOFFREY RISPOLI, based in upstate New York, has recently joined City National Bank as senior VP of commercial banking in the upstate region. Rispoli brings a wealth of experience with more than 18 years of international commercial-banking experience, including serving in leadership positions at HSBC, KeyBank, and Citigroup.

Generations Bank, a bank based in Seneca Falls that has branches across the Finger Lakes region, has promoted SANDRA AHNER to assistant VP – market manager. In her position, Ahner manages three Generations Bank offices located in Ontario County: Geneva, Farmington, and Phelps. Ahner joined the bank in 2018 as a universal banker in Generations
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Generations Bank, a bank based in Seneca Falls that has branches across the Finger Lakes region, has promoted SANDRA AHNER to assistant VP – market manager. In her position, Ahner manages three Generations Bank offices located in Ontario County: Geneva, Farmington, and Phelps. Ahner joined the bank in 2018 as a universal banker in Generations Bank office located in downtown Phelps. Over her 29-year-career in the banking industry, Ahner has held positions as a teller, customer-service representative, head teller, and service lead. In her position, Ahner manages a staff of universal bankers, services consumer deposit accounts and loans, and maintains the day-to-day operations of the three retail offices.

LAUREN KAHL has joined Salina–based CPS Recruitment as an account executive. In this role, she is responsible for business growth for the organization in the Buffalo region by developing strong customer relationships to assist clients with their talent needs. Kahl will also be actively engaged in the Buffalo region’s business trade associations, particularly in economic
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LAUREN KAHL has joined Salina–based CPS Recruitment as an account executive. In this role, she is responsible for business growth for the organization in the Buffalo region by developing strong customer relationships to assist clients with their talent needs. Kahl will also be actively engaged in the Buffalo region’s business trade associations, particularly in economic development to assist in the talent needs for area business growth. Prior to joining CPS Recruitment, Kahl spent several years as a Sales Specialist for a Buffalo–area technology company. She is a graduate of SUNY Oswego. CPS Recruitment provides businesses with professional direct-hire recruiting, temporary staffing solutions, contract to hire, and payroll-process services.

Financial Quest, a financial investment and advisory firm, has added new LPL financial advisor, ETHAN DOLCE. His credentials include FINRA Series 7 and FINRA Series 66 licenses through LPL Financial. Dolce earned a bachelor’s degree in business administration from SUNY Oswego. Before starting with Financial Quest, he worked at C&A Accounting in Cicero. Financial Quest,
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Financial Quest, a financial investment and advisory firm, has added new LPL financial advisor, ETHAN DOLCE. His credentials include FINRA Series 7 and FINRA Series 66 licenses through LPL Financial. Dolce earned a bachelor’s degree in business administration from SUNY Oswego. Before starting with Financial Quest, he worked at C&A Accounting in Cicero. Financial Quest, based on State Fair Boulevard in Geddes, offers financial services, including retirement planning, estate planning, investment planning, and insurance advisement.

Microscope, a health-care consultancy with headquarters in Syracuse, has hired MICHAEL CONLEY as a health-care consultant within its reimbursement and financial and operational performance service lines. He has experience as an advanced EMT/field training officer and manager. In addition Conley has several years of experience as a firefighter/AEMT. He attended the University of Maryland, majoring
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Microscope, a health-care consultancy with headquarters in Syracuse, has hired MICHAEL CONLEY as a health-care consultant within its reimbursement and financial and operational performance service lines. He has experience as an advanced EMT/field training officer and manager. In addition Conley has several years of experience as a firefighter/AEMT. He attended the University of Maryland, majoring in computer science. Microscope focuses on the financial, operational, and clinical areas of health-care organizations by discovering, customizing, and implementing solutions to optimize margins and cash flow.

JONATHAN GILDERSLEEVE has recently joined CXtec as an infrastructure engineer. He has a bachelor’s degree in network administration from Morrisville State College. CXtec offers pre-owned networking, voice, server and storage equipment; third-party maintenance solutions; manufactured structured cabling solutions; and hardware end-of-life management/asset disposition.
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JONATHAN GILDERSLEEVE has recently joined CXtec as an infrastructure engineer. He has a bachelor’s degree in network administration from Morrisville State College. CXtec offers pre-owned networking, voice, server and storage equipment; third-party maintenance solutions; manufactured structured cabling solutions; and hardware end-of-life management/asset disposition.
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.