WASHINGTON, D.C. – Top Republican on the House Ways and Means Committee Rep. Kevin Brady (R-TX) joined CNBC’s Squawk Box this morning to discuss the fight against Democrats’ push for radical tax hikes and multi-trillion spending plan that will crush workers, small businesses, and America’s middle-class families.
CLICK HERE to watch the full interview.
Rep. Brady said:
“I think this is sort of their last gasp, throw everything on their extreme wish list into one bill, to try to move it. I think it’s going to fail, and I think certainly support for these crippling tax hikes are dropping in Congress in a pretty serious way.”
We cannot fund infrastructure on the backs of America’s workers, middle-class families, and small businesses.
- With so much additional government spending, inflation will continue to rise, and paychecks will be worth less.
- Rep. Brady said: “We can do infrastructure in a pretty smart way. But if you’re tying it to these massive spending programs – especially right now as inflation continues to be a problem – it’s a mistake.”
President Biden’s tax hikes will hit the middle class and Main Street businesses.
- Despite President Biden’s insistence that he won’t raise taxes on those Americans making less than $400,000 a year, even the liberal Tax Policy Center says Biden’s overall tax plan will raise taxes on 75 percent of middle-class families next year, rising to 95 percent by 2031.
- According to analysis by the U.S. Chamber of Commerce, 1.4 million small businesses will be negatively impacted by Biden’s tax hikes.
The pay-fors in President Biden’s infrastructure bill that we said wouldn’t be real, are turning out not to be real.
- “Even the IRS admits you can’t close the tax gap by enforcement alone,” Rep. Brady said.
- The American people will reject Biden’s proposal to turn local bans into IRS chapters. We need concrete analysis to work with the Administration on the right way to close that gap without significantly intruding on the privacy of Americans.