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Brady: Middle Class Four Times More Likely to Be Hit With a Tax Hike Under Biden’s Bill Than Get Any Relief

August 16, 2022 — 'Inflation Reduction Act'    — Blog    — In Case You Missed It...    — Oversight    — Press Releases    — Select Revenue Measures   

Democrats’ newly enacted legislation not only offers Americans zero relief from inflation, it also offers zero reduction in the national debt, and zero lowering of global temperatures, Ways and Means Republican Leader Rep. Kevin Brady (R-TX) said on “Kudlow” with Larry Kudlow on Fox Business. Instead, middle-class working families are four times more likely to see tax hikes than any relief under Democrats’ tax plan.


CLICK HERE to watch the full interview.


The nonpartisan Joint Committee on Taxation confirmed that the average working family is more likely to be worse-off than better-off under Democrats’ tax plan.


“The President today, as we speak, is making a lot of claims about this bill. For most Americans, the number here to remember is zero. They’ll see zero relief from inflation, zero reduction in the national debt, and near zero lowering of global temperatures over the next century.


“But the one number middle-class families ought to be thinking about is four because if you’re in the middle class, you’re four times more likely to get hit with a tax hike under Joe Biden’s bill than any kind of relief at all. And that’s before we get to that army of IRS agents who are going to squeeze about $200 billion out of our families.”


READ: Nonpartisan Tax Scorekeeper: Average Working Family Is More Likely to Be Worse Off than Better Off Under Democrats’ Tax Plan 


Democrats will increase audits on the middle class.


“Through the years the IRS has always talked about the tax gap. And despite what they say publicly, privately, they believe the tax cheats are farmers, small businesses, people who live in the gig economy. Plan A was that bank surveillance scheme and privacy invasion, but politically, they didn’t think they could go after them.”


“When they couldn’t get it, Plan B was to unleash an army of IRS agents.”


READ: CBO: New IRS Audits Will Grab at Least $20B from Lower- & Middle-Income Families


Democrats are targeting American manufacturers with their new corporate minimum tax.


“[This bill] really discourages companies that build in America. Manufacturing in America gets hit with one of the biggest tax hikes. Small businesses who are already facing huge inflation and a worker shortage get hammered with $50 billion as well. 


“The Obamacare subsidies in this bill are so lavish that the University of Chicago estimates about a half a million Americans will see better, more affordable health care jobless than to reconnect to work. We need workers and we need them reconnected to jobs – this bill does the opposite.”

READ: Nonpartisan JCT Shows Made-in-America Manufacturers Hit Even Harder by Manchin-Biden