"These tax increases are an economic surrender to China, Russia, Japan and Europe, and our small businesses will get hammered with about six different tax increases just as they’re trying to recover from the pandemic and get people back to work.”
Texas Insider Report: WASHINGTON, D.C. – Congressman Brady joined The Rick Roberts Show on WBAP to discuss President Biden and Congressional Democrats' $3.5 trillion tax-and-spending spree amidst nationwide inflation.
“With two trillion dollars of taxes, a trillion dollars of new entitlements, and the greatest expansion of the welfare state in our lifetime, I don’t think Washington’s ever spent so much money to kill so many American jobs or drive prices higher than they are with this bill."
On President Biden and Congressional Democrats' $3.5 trillion tax-and-spending spree:
“With two trillion dollars of taxes, a trillion dollars of new entitlements, and the greatest expansion of the welfare state in our lifetime, I don’t think Washington’s ever spent so much money to kill so many American jobs or drive prices higher than they are with this bill. Look, this is not social infrastructure. This is expanding the welfare state, including paying people more to stay home than to come back and reconnect to work.”“But the tax increases are among the most damaging; we estimate we’ll lose about five million American jobs. These tax increases are an economic surrender to China, Russia, Japan and Europe, and our small businesses will get hammered with about six different tax increases just as they’re trying to recover from the pandemic and get people back to work.”
On the success of Republican-led tax reform:
“So the reason I love leading the [Ways and Means] Committee and I do now for Republicans is you can make every life better, you know, if you get the policies right. And we did that under tax reform. We lifted millions of Americans out of poverty. We increased wages for minorities, the disabled, women and young people who didn’t have a lot of skills like we haven’t seen before. So we know if you get the right policies, you can do really great things, but right now you’re seeing the opposite up there.”
“In the House, the first tax reform bill we introduced really simplified the code in a big way, where more than 90 percent of people could file their taxes on a postcard. We got rid of a lot of those special interest loopholes, really took it down to its foundation there. Through the process, of course, things get added back, so we simplified it quite a bit, but nowhere near as much as we would like.”
On record inflation under President Biden:
“Look, inflation’s on track to be the highest in 40 years. Right now that average family, just a schoolteacher with kids, is paying an extra cell phone bill, an extra utility bill, an extra cable bill each month due to inflation, and the reason for it is coming out of this White House and Democrat Congress. Look, you put trillions of stimulus money out in the economy, but then you discourage people from working—by either paying them more unemployment or in this case, the child tax credit that you no longer have to work to be eligible for—you put those two things together, and you’ve got higher prices, fewer products, slower deliveries.”
"And now the President is facing—after an economic crisis, a crime crisis, and a border crisis—what some are calling a Santa Claus crisis. I think a lot of parents are going to be shocked to see, you know, their money they’ve saved up isn’t going to go very far. And because of all those supply chain problems that the White House has ignored, there’s a good chance that toy, that electronic isn't going to be there. And it’s just one example of how many problems they’ve just ignored."
On Democrats' economic policies crushing American small businesses:
“No one works harder, longer, or more days and hours than small businesses, especially family-owned mom-and-pop businesses. They usually risk most of what they’ve earned, whether it’s mortgaging their second house or running up credit card debt, to start that business. They work incredibly hard. And then here we have Washington—or at least Democrats, half of Washington—who believe they should have a greater claim over all that hard work and risk than the small business people do. It really is offensive, and I think it’s one of the reasons why this package is stalled out right now.”
