Democrats’ Massive Tax-and-Spend Bill Will Hurt Texans
I made the following remarks on voting against Senate Democrats’ reckless tax-and-spending bill. Video can be found here.
We've had a pretty good run of bipartisan cooperation, and I've been proud to be part of that. But this is a complete reversal of sort of the spirit of bipartisan cooperation that we've seen, frankly, all summer long, which has produced some pretty good legislation.
There are tax hikes that will leave hard-working Americans poorer.
It's not going to do a thing to ease inflation in the near-term.
Working families aren't the only ones going to face a higher tax bill. The Manchin tax hike also hits businesses, and it's sure to have a devastating impact.
Higher taxes will require them either to pass those costs along or to cut costs elsewhere.
Experts have analyzed this bill and said it raises taxes on families, it will have an adverse impact on jobs, and keep inflation high.
This bill will increase taxes on families earning less than $400,000 a year. It will stifle medical and pharmaceutical innovation and prevent new lifesaving cures from being discovered.
It will threaten our economy and our energy security at a vulnerable moment when we're in a recession. And it won't do a darn thing to ease the loss of purchasing power due to historically high inflation rates.
No amount of spin or fast-talking can conceal the damage this bill will inflict on the American people.
For the life of me, I don't know how our Democratic colleagues are going to explain this one in November.