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Key Dem Senator: Families Will Suffer Under Biden’s $3.5 Trillion Tax Hike

Democrats are in economic disarray
September 2, 2021 — Blog    — Press Releases    — Select Revenue Measures    — Work and Welfare   

Senator Joe Manchin (D-WV), in an op-ed for The Wall Street Journal today urged Democrats in Congress to abandon their $3.5 trillion tax hikes and spending spree – calling for a pause amid growing inflationary pressures:

 

“Now Democratic congressional leaders propose to pass the largest single spending bill in history with no regard to rising inflation, crippling debt or the inevitability of future crises. Ignoring the fiscal consequences of our policy choices will create a disastrous future for the next generation of Americans.”

 

Bidenflation has shrunk the paychecks of hardworking American families. The last thing we need is more government spending and crippling tax hikes.

 

CLICK HERE to read the full op-ed.

 

KEY EXCERPTS:

  • “An overheating economy has imposed a costly ‘inflation tax’ on every middle- and working-class American. At $28.7 trillion and growing, the nation’s debt has reached record levels… Inflation continues to rise and is bleeding the value of Americans’ wages and income. More than 10.1 million jobs remain open.
  • “We must allow for a complete reporting and analysis of the implications a multitrillion-dollar bill will have for this generation and the next … What should we fund, and what can we simply not afford? … Social Security and Medicare Trustees have sounded the alarm that these life-saving programs will be insolvent and benefits could start to be reduced as soon as 2026 for Medicare and 2033, a year earlier than previously projected, for Social Security.”
  • “Now Democratic congressional leaders propose to pass the largest single spending bill in history with no regard to rising inflation, crippling debt or the inevitability of future crises.”

 

CLICK HERE to read the full op-ed.

 

KEY TAKEAWAYS:

 

Democrats’ Tax Hikes and Spending Binge Will Devastate American Families and Small Businesses.

  • Read our toolkit HERE, which lays out the details of Democrats’ socialist agenda which sticks middle-class families, farmers, and Main Street Businesses with the tab of their tax hikes.
  • Both the top non-partisan Joint Committee on Taxation (JCT) and the left-leaning Tax Policy Center have concluded President Biden is breaking his tax pledge by raising taxes on middle-class families
  • According to the Tax Policy Center, President Biden’s tax plan will raise taxes on 75 percent of middle-class families next year, rising to 95 percent of middle-class families over the long term – contradicting his pledge not to raise taxes on middle-class Americans.

 

Bidenflation is Leaving Americans Behind.

  • Democrats’ stealth tax in inflation is burning holes in Americans’ wallets at every turn.
  • Inflation has increased every month under President Biden and is only continuing to shrink families’ purchasing power.
  • With more than 10 million job openings, American families need good-paying jobs, not more emergency spending and endless government checks.