I think what we ultimately all want is higher living standards for the American people, and if anything, our low taxes are getting in the way of that here.
Charles Boyle
The Public Record
you think about that--too often around here we hear about the spending side, but we don't hear about the whole other half of the equation, which is the revenue side.
Mr. Chairman, in all seriousness now, I have to say, at first, I am disappointed, you only used the word 'woke' twice.
I want to pick up on the idea of balancing the budget in ten years because some of my colleagues on the other side of the aisle have committed to that.
Today, American workers have benefited from a record 12.4 million jobs created since President Biden took office.
There is short immediate consequences and longer-term consequences. The immediate consequence, I think under any scenario would be we would go into recession.
I think the CBO actually released a memo very recently documenting the severity of the cuts that would be necessary to achieve a balanced budget ten years from now under the restrictions that you articulated, and pretty clearly it is not realistic.
And Moody's projected two and a half million job losses as well as a recession in 2024, if that sort of policy were to come about.
the Biden budget accomplishes all of this and more while making sure no one who makes less than $400,000 a year pays a penny more in new taxes.
It restores the full child tax credit that we passed as part of the American Rescue Plan--and when it was in place, that full child tax credit cut child poverty by more than half.
It is damn unfair that a teacher or firefighter in my neighborhood in Northeast Philadelphia pays a higher percentage of their paycheck in taxes than a billionaire.





