Political Quotes

“I am here today with a number of my colleagues from the Finance Committee to discuss in the next hour the partisan $3.5 trillion reckless tax-and-spend bill that the Democrats are trying to cram down on the American people. The United States is experiencing unprecedented economic pressures, including significant inflation and record price increases, significant friction in labor markets, and intense international competition, all while the pandemic continues to threaten Americans' health and our economic recovery. Yet the Democrats want to move forward with this reckless $3.5 trillion tax-and-spending spree that will stunt our economic recovery, further impede labor markets, and punish low- and middle-income workers with higher prices for everyday goods and services. The Democrats are currently debating just how high they want to increase taxes on American businesses and workers. House Democrats have proposed to hike the corporate tax rate to 26.5 percent from 21 percent. This would return our combined corporate tax rate, at 31 percent, to one of the highest among developed countries. Hiking the rate indisputably hits the middle class. Estimates suggest that workers shoulder up to 70 percent of the burden of the corporate tax. A recent analysis performed by the nonpartisan Joint Committee on Taxation says the burden on over 98 percent of Americans who make less than $500,000 a year increases over time. Let me make that clear.…”