“President Biden’s Build Back Better plan will drive about 2 million more workers out of the workforce, and drive inflation higher and longer,” Republican Leader on the House Committee on Ways and Means Rep. Kevin Brady (R-TX) said today, appearing on Bloomberg TV with David Westin and The National Desk with Jan Jeffcoat.

CLICK HERE to watch the full interview.

Rep. Brady warned that inflation is hitting American families and Main Street businesses:

“Businesses are still struggling to get workers, their prices are soaring, they’re passing those prices on to consumers which is driving inflation, and under this bill, I really worry we’re stoking more federal spending in the economy but creating new barriers for workers to reconnect.

 

You’ve got a recipe for higher inflation for a longer period. That’s why small businesses, for example, their pessimism about the next six months is at a 48-year low.”

CLICK HERE to watch the full interview.

Rep. Brady warned that  the Child Tax Credit creates obstacles for American families, and will be made worse with Democrats’ Toddler Tax increasing the cost of child care:

“The Child Tax Credit, for the first time, is no longer tied to earnings and that creates new barriers for moving people back into the workforce. But there’s a new barrier as well – it’s in the child care area.

 

“A new study by the University of Chicago shows that an average family with two kids in child care will pay $27,000 more a year.”

On tax hikes holding back our recovery and worsening the labor shortage, Rep. Brady said:

“This bill has got $1.2 trillion dollars of tax hikes on our job creators, whether you’re main street businesses, corporations, especially those in America who are competing around the world, this is an economic suppression at a time we don’t need that. At the end of the day, it’s going to drive jobs overseas and make it hard to create more jobs and investment here in the United States.”