Washington, DC — Yesterday, the House Committee on Ways and Means voted to advance the Democrats’ $3.5 trillion tax and spending package.
The package breaks President Biden’s pledge to not raise taxes on anyone making less than $400,000 both directly and indirectly. A new tobacco tax on nicotine and vape products is regressive, meaning it falls more heavily on lower income households.
A number of tax hikes will also indirectly hit the middle class in the form of lower wages for workers and higher prices on consumers. In addition, adding $3.5 trillion in debt will almost certainly exasperate the inflation problem while shrinking the overall economy. That translates to less money in the pockets of hardworking Americans with less buying power per dollar.
AMAC Action President Bob Carlstrom said:
“The package advanced out of the Ways and Means committee this week is a recipe for disaster for America’s small businesses and the country as a whole. At a time when many small businesses are hanging on by a thread, Democrats in Congress continue to throw new tax increases and regulations at Main Street. Imposing the biggest tax hike since 1968 is the opposite of a prescription for economic recovery.”
During the committee hearings, Top Republican Rep. Kevin Brady (R-TX) blasted Democrats’ out of control tax and spend agenda:
“President Biden, Speaker Nancy Pelosi and House Democrats are ramming through trillions of wasteful spending and crippling tax hikes that will that will drive prices up even higher, kill millions of American jobs and drive them overseas, and usher in a new era of government dependency with the greatest expansion of the welfare state in our lifetimes.”
“Seniors across the country are overwhelmed with the amount of harmful policies coming out of Washington, AMAC Action President Bob Carlstrom continued, “it’s our job to help our members understand how harmful each specific policy that has been proposed would be if enacted and how to make their voices heard with elected officials. The amount of push back on this bill we are seeing from every day hardworking Americans tells me that House Democrats haven’t yet had the last word on hiking taxes.”
During the recent Ways and Means committee hearings, which concluded yesterday, Republicans offered over 60 amendments. Read the list here: Day Four Wrap-Up: Democrats Defend Economic Surrender
Speaker Pelosi has so far given no word on next steps for the bill following its initial passage out of committee but we expect to be opposing floor action soon. The bill has not yet been considered by the full House of Representatives. Please continue to stay tuned for more updates from our team in Washington, DC as we make your voices heard on Capitol Hill in opposing these tone-deaf and economically destructive policies.
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