The nearly $5 trillion tax and spend budget resolution bill will not only include historic levels of spending but will also represent the largest tax hike in history. Even as our economy recovers from a historic pandemic, the bill would raise $1.75 trillion in taxes on families and job creators while vastly increasing the power of the IRS.
Tonight, Republicans gave Democrats the opportunity to rethink their position on raising taxes sharply on working Americans with an amendment from Sen. Mitt Romney that would prevent the largest tax hike in history. Shockingly, in a post-COVID economy, Democrats find no shame in standing united behind the largest tax increase in U.S. history.
President Biden has long promised not to raise taxes on those making under $400,000 but that promise looks to be a thing of the past.
Statement from NRSC Spokesman T.W. Arrighi: “Democrats just looked Americans in the eye and said, ‘we’re going to enact the largest tax hikes on American families and job creators in history and there isn’t anything you can do about it.’ We wish vulnerable Democrat Senators like Maggie Hassan, Raphael Warnock, Mark Kelly, Catherine Cortez Masto, and Michael Bennet the best of luck as they try to sell their vote back home.”