Brady Calls Biden Tax Hikes an “Economic Blunder"
Outlines tax reform gains for American families, risks posed by Biden’s tax hikes on Fox Business’s Varney & Co.
April 16, 2021 - In Case You Missed It... - Press Releases - Select Revenue Measures
“Our tax reform worked spectacularly for families, for lifting millions out of poverty, and for bringing jobs back overseas. I think this is the biggest economic blunder in our lifetime to raise these taxes on our job-creators," warned Ways and Means Republican Leader Kevin Brady (R-TX) in a conversation with Stuart Varney on Varney & Co.
“I think you’re going to see another wave of U.S. companies moving operations, headquarters, and research overseas. But also, you’re going to see [less] hiring, and lower paychecks, or stagnant paychecks because of it.
KEY TAKEAWAYS:
* Biden’s tax hikes will push good-paying jobs overseas. After Republican tax reform, companies - and the jobs they create - came back to the United States.
* Biden’s tax hikes will increase the cost of living for American families. Experts estimate that the energy mandates included in Biden’s tax hikes will cost American households $1,400 per year.
* Biden’s tax hikes will result in lower wages and less growth. According to the Tax Foundation, Biden’s tax hikes alone will eliminate 159,000 jobs and reduce wages by 0.7 percent.
READ: Businesses to Biden: Tax Hikes Will Destroy Good-Paying Jobs
SUBCOMMITTEE: Select Revenue Measures
