Brady: Biden Administration Loves High Taxes, Even if It Makes Us Uncompetitive
Ways and Means Republican Leader Rep. Kevin Brady (R-TX) appeared on Gray TV’s Full Court Press with Greta Van Susteren, where he discussed President Biden’s bungling of the economic recovery with crippling tax hikes.
CLICK HERE to watch the full interview. Excerpts are below.
On the Biden Administration’s Global Tax Surrender, Rep. Brady said:
“I think the losers would be the American tax base because those dollars won’t come into our coffers, they’ll go around the world. […]
“At the end of the day, what I think the White House will bring back to Congress is a plan that favors foreign companies over American companies and takes up to a hundred-billion-dollar tax bite out of America. […]
“This administration loves high taxes, even if it makes us uncompetitive.”
When asked about Democrats’ crippling tax hikes and spending spree, Rep. Brady said:
“You’ve got $400 billion in taxes on small businesses. They’re going to make the labor shortage worse because they’re removing the requirement to work from the child tax credit, basically chasing a million-and-a-half workers out of the workforce. And I’m confident rising prices, inflation, will go over time, higher and longer as a result of more spending, fewer workers.”
Rep. Brady continued, warning that Bidenflation could be here to stay:
“Inflation, unfortunately, looks to be persistent, long term, and unfortunately higher. And I think it’s not just COVID here. The policies under President Biden encourage people to stay home and not reconnect to work. That continues to cause real problems, and I think only gets worse if this Build Back Better bill makes it to his desk.”
Rep. Brady blasted Democrats’ SALT tax giveaway, which offers a $125,000 stimulus to millionaires and billionaires, while the 90 percent of middle-class taxpayers who don’t itemize their taxes get nothing. Rep. Brady said:
“I don’t understand why Democrats seem to be hell-bent on what will be a huge tax windfall for the wealthy. More than half of the SALT deduction, if it’s repealed, goes to millionaire households or greater, when in fact the current $10,000 cap is very fair. […] Lifting it is a hundred-billion-dollar giveaway to the wealthy a year.
“So, the question is, is big tax breaks for the wealthy coming out of COVID your priority? It’s not ours.”
And finally, Rep. Brady noted how many Americans are losing confidence in the President’s competency to heal the economy. He said:
“I think most Americans have lost faith in the President’s competency on the economy. And almost half believe we’ll see a recession next year. None of this is good. None of this should be happening because 2021 should have been a banner year for the economy. […]
“I think the solution here is a stronger economy, better jobs, rising wages, rather than more government checks and more government benefits.”