Biden’s $4 Trillion Tax-and-Spend Bill Sabotages America’s Economy
Noting that inflation will only worsen as a result of Democrats’ tax-and-spend bill, I recently delivered remarks on the House floor outlining how Democrats’ bill will sabotage America’s economy, kill jobs, and hammer working Americans and small businesses with crippling tax hikes.
CLICK HERE to watch my opening remarks.
Key excerpts from my remarks appear below.
President Biden is over 700,000 jobs short of his promises from the last stimulus, has ignored the damaging labor shortage and fastest rising inflation in 40 years.
This is all proof that President Biden is bungling the recovery - and leaves many Americans questioning his competence to heal the economy.
Build Back Better’s crippling tax hikes will kill American jobs, drive many of them overseas, hammer small businesses as they struggle to recover, worsen the labor shortage, and drive inflation even higher.”
And yes, President Biden is breaking his pledge not to raise taxes on America’s lower and middle income earners. Two out of three millionaires will get a tax cut, while the middle class get a tax hike.
The new corporate minimum tax is really a Made-in-America tax.
It hits American manufacturing, energy, and technology businesses the hardest, along with American consumers.
The international tax increases make it better to be a foreign company or consumer than an American one.
The penthouse gets an obscene $125,000 tax break – but the building janitor gets nothing. The middle class and the 90 percent of taxpayers who don’t itemize their taxes….get nothing.
Where are their priorities? The SALT windfall for the wealthy is 50 times larger than help a parent supposedly gets from the child tax credit.
Another budget gimmick is supercharging the IRS with 80,000 new agents. And while Democrats will say they’ve abandoned their bank surveillance plans, the White House is ‘hopeful’ Senators will sneak it back in.
If you’re worried about rising prices shrinking your paychecks more and more each month, these trillions in new government spending will only make it worse.
Inflation is killing families, forcing them to effectively pay a second utility, cell phone, or cable bill a month. Inflation is a tax, and Democrats are raising it.
Driving jobs overseas.
Making the worker shortage worse and driving prices higher.
This is a terrible bill."
CLICK HERE to read my full remarks as prepared for delivery.