Biden Framework: $1.2 trillion of Taxes on Businesses and Handouts to Wealthy Companies
Nov. 1, 2021 - Blog - Press Releases - Select Revenue Measures - Trade
Addressing Democrats’ last-ditch effort to pass massive tax increases on businesses and the middle class on CNBC’s Squawk Box today, top Republican on the Ways and Means Committee Rep. Kevin Brady (R-TX) said:
* “They’re going to use those dollars to offer about a half a trillion dollars in green pork. They’ll be giving away much of that, by the way, to the wealthy, and to the biggest corporations."
* “There’s no question labor mugged the Treasury in this tax proposal. You see a number of these giveaways to labor unions, and that is one of them… All of us who don’t aren’t joining a union will subsidize the dues of those who don’t."
* “The biggest question is: If an auto company or an individual wants to buy or build an electric vehicle, should you send them $12,500 of your taxes to do that? Should we send these automakers tens of billions of dollars because they decided to build electric vehicles? I think the answer is no."
KEY TAKEAWAYS:
* Democrats’ tax increases hit Main Street businesses and middle-class families’ pocketbooks to offset the subsidies that they offer to the wealthy.
* While Main Street businesses will be hit with tax increases, Democrats are giving away $550 billion in green welfare subsidies for the wealthy and the world’s biggest corporations.
* A family earning $800,000 in income in 2022 could see a tax cut of up to $118,000 thanks to Democrats’ Green New Deal subsidies and SALT tax shelters.
READ: Fact Check: Dems Subsidize Millionaires, Attack Main Street & Ordinary Americans
