President Biden's massive new multitrillion dollar tax and spend bill, the so-called Build back Better Act will cost at least $4 trillion according to the U.S. Chamber of Commerce. According to the Chamber, the Build Back Better Act will significantly increase inflation and lead to up to 3 million people losing their employer sponsored health insurance plans. Astonishingly, as we debate this legislation on the floor of the House today, there is still no detailed cost analysis by the nonpartisan Congressional Budget Office. Among the bill's most egregious provisions, it: Effectively bans Catholic and other faith-based schools from participating in the expanded child care program; Dramatically raises taxes on businesses and individuals; Grants more power to the IRS to target taxpayers by removing taxpayer protection requirements and hiring 87,000 additional agents; Permits taxpayer money to go to entities involved China's genocide against the Uyghur Muslims; Institutes price controls on prescription drugs and subjects companies that refuse to comply to a massive excise tax, which would cripple innovation and could cause the removal of life-saving drugs from the U.S. market. And, shockingly, the legislation forces taxpayers to pay for abortion on demand in several new and expanded programs. Taxpayers should not be forced to subsidize or facilitate the killing of an unborn child.…
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I thank the gentleman for his leadership. Mr. Speaker, I yield to the gentleman from Mississippi (Mr. Palazzo), my friend and colleague and leader in the pro-life movement as well.
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