On the recordAugust 6, 2022
It is 4:50 a.m., and I want all the people who thought that inflation was going to be transitory to understand that it is persistent, and that persistence of inflation has hurt the Tax Code that tries to help middle-class America. So my amendment fixes this by providing inflation relief to the middle class by increasing family and education tax provisions to account for Biden inflation. Moreover, the bill includes important savings incentives that will enable middle-class Americans to save tax-free, ensuring that they aren't taxed on phantom income resulting from inflation. So I urge my Members to support this. Particularly when you have in this Tax Code things that benefit the rich who can afford Teslas for $80,000, you can surely do something for middle-class America. The PRESIDING OFFICER. The Senator from Oregon.
