The Democrats’ $1,750,000,000,000 ($1.75) trillion tax-and-spend legislation represents one of the largest expansions of the federal government in American history. This resolution is filled with partisan priorities that will only drag down our economy as we are recovering from the COVID-19 pandemic. These provisions include Green New Deal-style climate policies like taxes on imports that emit carbon dioxide, taxes on oil and gas, and tax breaks for electric vehicles. The budget resolution significantly expands the government’s role in the private health care decisions of everyday Americans, which will result in higher costs for taxpayers. It will also create an expensive taxpayer-funded family leave program for all Americans without even requiring someone to be working! The bill will only be partially paid for by increasing taxes on the middle-class. Additionally, H.R. 5376 includes provisions to massively expand the Internal Revenue Service, increase audits of everyday Americans, while simultaneously turning it into a social welfare agency.
President Biden and Congressional Democrats have repeatedly claimed that no one making under $400,000 per year would pay more in taxes as a result of the budget resolution. This is false. The bill includes a $400 billion tax increase on small businesses and an additional $800 billion tax increase on corporations. While middle income Americans and small business owners grapple with the tax increases, the top five percent of the wealthiest Americans will receive a $30 billion tax cut! The SALT tax cut for the rich averages out to a $125,000 benefit for the highest income earners and is the most expensive provision included in the entire budget resolution. Not a single penny will go to benefitting low income Americans. Additionally, according to the nonpartisan Penn Wharton Budget Model, the President’s proposals could decrease GDP growth and increase the national debt by more than 25 percent. Our economy is already in dire straits due to President Biden’s policies - inflation is rising to its highest rate in more than three decades and Congress recently blew past our nation’s debt limit. This is a deeply irresponsible policy that will harm future generations, saddling our children and grandchildren with a debt that they will never be able to repay. I have repeatedly spoken out about these issues and advocated for American workers and families - you can watch my remarks here and here.
The Democrats’ budget resolution is an overreach of government influence in Americans’ lives that will entrench socialist policies in our nation. Rest assured, as the 117th Congress moves forward I will continue to fight against harmful legislation that expands government control and work to protect the rights of American citizens.
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