Political Quotes

On the recordFebruary 20, 2025
today we are debating the narrow Senate fiscal year 2025 budget resolution that fulfills promises to secure America's borders, our national defense, and unleash our energy potential and finally start to get our fiscal house in order. In the near future, I expect us to move forward with a budget resolution that allows us to prevent more than a $4 trillion tax hike on American households, the largest tax hike in the history of America. That will be felt by virtually every American if tax cuts expire at the end of this year. Because the other side has filed a litany of tax amendments that rehash various false narratives and each side will only have 1 minute to debate, I am going to spend a little time right now explaining why we can't afford a $4 trillion-plus tax increase, the positive impact that the Trump tax cuts had on the economy, and some of the key provisions that expire at the end of the year. At the end of this year, many key provisions of President Trump's 2017 Tax Cuts and Jobs Act are set to expire, triggering an over $4 trillion tax hike on American families and businesses. While taxes will increase on Americans of all income levels, the majority of this tax hike, about $2.6 trillion of it, will fall on those making less than $400,000 per year. An average family of four making about $80,000 a year will see a $1,700 tax hike in 2016.…
Said by
Mike Crapo
Republican · Idaho
Source
govinfo.gov
Feb 20, 2025

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