On the recordAugust 4, 2022
I am pleased to join my colleagues in talking about the tax-and-spend bill that is being put forward by our colleagues on the other side of the aisle. I rise today to discuss the harmful economic consequences that this tax-and-spend bill will have on American families. Americans are facing soaring inflation that we haven't seen in generations. In June, the Consumer Price Index was up 9.1 percent from a year earlier. The price increases families are seeing at the grocery store, at the gas pump, and for basic housing needs have far outpaced wage gains and left Americans struggling to make ends meet. The news last week that our GDP shrank for a second consecutive quarter is only further evidence of this administration's failed economic policies. Now, my colleagues across the aisle are doubling down on their failed approach, proposing to increase taxes on nearly every single hard- working American by $750 billion and spending nearly $370 billion on a Green New Deal policy. And, again, don't just take my word for it. Analysis by the Joint Committee on Taxation shows this bill will increase taxes on millions of Americans across every income bracket, with more than half of the tax increase impacting Americans making less than $400,000 a year.…
Source
govinfo.gov




