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Chairman Smith Floor Remarks – H.Con.Res 86, Opposing a Carbon Tax

March 21, 2024 — Floor Statements    — Tax   

As prepared for delivery.

“Working families are struggling to make ends meet – to afford to put food on their table, clothes on their back, and gas in their cars. All because of the inflation crisis that has been fueled by Washington Democrats’ runaway spending and President Biden’s failed economic policies. 

“The last thing Americans need is a carbon tax. It would raise energy prices and harm American competitiveness. It would put American workers and job creators at a disadvantage to appease the president’s wealthy environmentalist donors and their far-left agenda. 

“The Biden Administration is already giving billion-dollar corporations and big banks massive tax breaks under the so-called Inflation Reduction Act. This is the same administration that is celebrating spending over a trillion dollars and counting on special interest ‘green’ energy handouts – including electric vehicle tax credits for wealthy households while funneling American tax dollars to countries like China.

“But for working families, a carbon tax would not only raise prices at the pump but also at the grocery store; it would raise the cost of doing business on Main Street at a time when America’s small businesses are struggling under the highest interest rates in over two decades. Those who can least afford to pay more – like seniors on fixed incomes – would suffer the most. 

“Today, Congress can send a loud and clear message to the American people and the Biden Administration that says not on our watch. Not on our watch will there be an anti-American family, anti-American worker, pro-China carbon tax while trillions of those same hardworking Americans’ tax dollars go to line the pockets of the wealthy and well-connected.”