On the recordSeptember 21, 2021
Mr. President, the Democratic Party's reckless $3.5 trillion tax-and-spend reconciliation--their spending spree--will be a disaster for the American family. The Committee for a Responsible Federal Budget warns that this spree could increase the deficit not by $3.5 trillion but by $5 trillion--a little bit of a bait and switch. Oh, it is only 3.5--only 3.5. It turns out the independent Committee for a Responsible Federal Budget says, no, more like 5.5. Now, today, my colleagues have shed light on the many costs of this economic--I don't know what to call it--potential catastrophe. Here are just a few in speaking from the perspective of my State. If our goal is to get back to the prepandemic economy, which, by the way, was the best economy of my lifetime--an economy in which there was record-low unemployment, which is to say record-high employment for women, African Americans, Hispanics, the disabled, high school dropouts; record-high employment for veterans, you name it--then this is not the way to go. By the way, the wage growth in this prepandemic economy was disproportionately for those in the lower quintile of our Nation's economy. So those who were lower waged to begin with were seeing the greater growth in their wages under the previous economy. Why does this matter a lot for my State? Louisiana is a hub of innovation for energy and other technologies. Innovation creates jobs, raises wages, and puts food on the tables of working families in my State.…





