‘Higher Taxes and Fewer Jobs’: Democrats Revive Massive Tax and Spending Bill
More reckless spending and a massive tax increase will do even more damage to Democrats’ already broken economy.
July 29, 2022
Democrats announced a plan this week to raise taxes by more than $450 billion dollars just as the country officially entered a recession. The bill would also double the size of the IRS. Republicans slammed Democrats for proposing job-killing tax increases while Americans struggle under Joe Biden’s broken economy.
The Hill: Senate Republicans were quick to hit Democrats for hiking taxes in the midst of a recession. “Minutes ago, new data confirmed what a supermajority of Americans already knew: Democrats have plunged America into a recession. According to official statistics, the U.S. economy just shrank for the second consecutive quarter,” Senate minority leader Mitch McConnell said in remarks on the Senate floor on Thursday. “Apparently, our Democratic colleagues do not want to be responsible for just skyrocketing prices alone: They want Americans to be faced with skyrocketing prices and higher taxes and fewer jobs, all at the same time.”
Republicans warn that the hundreds of billions of dollars in new spending will add more fuel to the inflation fire. The reckless spending could also increase the size of the deficit.
Let's be clear: The Biden Administration's big spending agenda will increase the deficit for the next 10 years. Inflation is at 9.1%. We are in a recession. And the Admin still wants to spend more.
— Ashley Hinson (@RepAshleyHinson) July 28, 2022
This Admin treats taxpayer money like monopoly money & Iowans are sick of it. https://t.co/tlE4smw9yR
Bottom Line: More reckless spending and a massive tax increase will do even more damage to Democrats’ already broken economy.
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