Democrats' Reckless Tax-and-Spending Spree
S.Con.Res. 14, Fiscal Year 2022 Budget Resolution
I voted against the partisan $3.5 trillion tax-and-spending spree by the Democrats, which inched forward in the Senate by a party-line vote of 50-49. This is not a true infrastructure bill, and it will effectively raise taxes on almost every American.
This poorly- and incorrectly-named ‘human infrastructure’ bill is a filibuster-proof budget proposal that will do long-term damage to our economy and to millions of families around the country. It is a blueprint to recklessly tax and spend our country into fiscal ruin. Unlike the true infrastructure bill, this social spending proposal is far from bipartisan, far from traditional infrastructure, and far from non-inflationary spending. The measure increases taxes on businesses small and large; on farmers and ranchers; on retirees; and certainly on those making less than $400,000 per year. And, it turns your checking account over to the Internal Revenue Service (IRS).
Some key information about this legislation:
- Raises taxes on almost every American.
- Spurs inflation.
- Doubles IRS funding and expands data collection.
- Raises taxes on businesses of all sizes, resulting in lower wages; fewer jobs; higher prices.
- Makes U.S. less globally competitive by doubling international tax.
- Creates a double-death tax, devastating family farms and small businesses.
- Raises taxes on savers and retirees by increasing the capital gains tax.
- Includes a huge tax cut for the ultra-wealthy in high-tax-and-spend states.
- Stifles innovation in the pharmaceutical industry by imposing bureaucratic price controls.
Here are some resources for further information about my views on this reckless tax-and-spend proposal:
- Ruthless Podcast – Hear my take on how job-killing tax proposals will lead to lower wages, fewer jobs and higher prices for consumers. My interview begins around the 59:00 mark.
- Press Release–Crapo Blasts Democrats’ Runaway Spending and Job-Killing Tax Hike Proposals
- Press Release – Analysis: Biden Tax Hikes Hit Middle Class
- Press Release – Crapo Files Amendment to Protect Americans’ Privacy from Intrusive IRS Reporting Regime
- Press Release– Democrats Choose Big Government Over Americans’ Privacy
- Press Release– Crapo: Reckless Tax and Spending Spree Mortgages America’s Future
- Radio Interview – In an interview with 670 KBOI’s Nate Shelman, I explained why this bill is far different than the bipartisan infrastructure bill. It also answers questions about the mileage tax study.
- Video Remarks – On the Floor of the U.S. Senate, I delivered remarks attacking the Democrats’ runaway spending and job-killing tax hike proposals.
- Video Remarks– During the Senate’s consideration of the Budget Resolution proposal by Senate Democrats, I filed an amendment to prevent the monitoring and reporting of sensitive American taxpayer information on the Internal Revenue Service by financial institutions.
- Video Remarks– I urged my colleagues to vote against another proposal providing the IRS even MORE latitude to monitor and report on Americans’ financial accounts.
If you are looking for information about my vote on the bipartisan, hard infrastructure bill, click HERE.