The Joint Committee on Taxation (JCT) has confirmed that $10.6 billion in tax increases from the Democrats’ Inflation Act will hit families making less than $200,000. JCT’s analysis looked at the distributional impact of the non-Obamacare related tax provisions, including $362 billion worth of tax increases and hundreds of billions worth of Green New Deal tax subsides. … Continue reading Nonpartisan Tax Scorekeeper: Democrat Inflation Act Hits Families Making Under $200,000 with $10.6 Billion Tax Hike
Category: Economy
House Budget Committee Republican Leader Jason Smith (MO-08) issued the following statement today alongside a fact sheet exposing the various ways in which the Democrats’ Inflation Act is an unmitigated attack on American families, businesses, and the nation’s finances, all in service to a liberal policy agenda.“Democrats in the U.S. House of Representatives are lining up to … Continue reading How the Inflation ‘Reduction’ Act jacks up inflation-fueling spening
On Monday, U.S. Sen. Ron Johnson (R-Wis.) joined his Republican Homeland Security and Governmental Affairs Committee (HSGAC) colleagues in a letter to HSGAC Chairman Sen. Gary Peters (D-Mich.) requesting a hearing with Federal Reserve Board Chair Jerome Powell and leadership at the Federal Bureau of Investigation (FBI) regarding Chinese influence and information theft at U.S. … Continue reading Republicans Demand Hearing on Communist Chinese Influence and Information Theft at US Federal Reserve Banks
U.S. Senate Republican Leader Mitch McConnell (R-KY) delivered the following remarks today on the Senate floor regarding Democrats’ Reckless Taxing and Spending Spree: “Democrats want to pass huge, job-killing tax hikes in the middle of a recession they created. “Hundreds of billions of dollars in new taxes on American jobs, American manufacturing, American electricity, and … Continue reading Democrats Tax Working Families’ Gas and Electricity to Subsidize Luxury Shopping for the Wealthy
House Budget Committee Republican Leader Jason Smith (MO-08) today released a fact sheet exposing how the Washington Democrats’ so-called “Inflation Reduction Act” relies on budget scoring gimmicks and false sunsets to hide the true cost of its inflationary spending and will add to the nation’s already unsustainable debt. “Democrats are at it again using budget gimmicks and fake sunsets to create savings on paper – just … Continue reading FACT SHEET: Democrats’ Inflation EXPANSION Act Increases Debt by $114 Billion
At today’s U.S. Senate Banking Committee hearing, Ranking Member Pat Toomey (R-Pa.) said that Democrats’ new reckless tax-and-spending bill will worsen 40-year high inflation and the contracting economy. Specifically, Senator Toomey criticized a housing provision in the Democrats’ spending bill that creates a $1 billion slush fund for “greening” taxpayer-subsidized housing. Ranking Member Toomey’s opening remarks, … Continue reading Toomey: Housing Costs Will Escalate With Democrats’ Reckless Tax-and-Spending Bill
As America spirals into a recession, domestic manufacturers will soon face a higher cost of doing business as a result of Washington Democrats’ tax and spending plan, reports the Wall Street Journal. Analysis released last week from the Joint Committee on Taxation (JCT) shows that domestic manufacturers would bear roughly 50 percent of the tax burden from a … Continue reading Nonpartisan Committee Confirms Nearly Half of New Taxes in Democrat Proposal Fall on US Manufacturers as America Spirals into Recession
U.S. Senator Tommy Tuberville (R-AL) is leading a group of Senators in calling for an investigation into two commonly used stock trading platforms with ties to the Chinese Communist Party, Webull Financial, LLC and Moomoo, Inc. In a letter to Securities and Exchange Commission (SEC) Chairman Gary Gensler, Senator Tuberville and his colleagues Senators Ted Cruz (R-TX), Mike Braun … Continue reading Senators Call for Investigation into Stock Trading Platforms with Ties to China
U.S. Sen. Ted Cruz (R-Texas), member of the Senate Commerce Committee and the Senate Foreign Relations Committee, issued the following statement regarding his no vote on the CHIPS-Plus bill: “Our dependence on semiconductors manufactured abroad is a serious vulnerability. Right now, an enormous amount of the most complex semiconductors are built in Taiwan, where they … Continue reading Cruz: CHIPS corporate welfare bill ‘invites cronyism and corruption’
In response to this morning’s GDP data indicating -0.9% growth in Q2, which confirms two consecutive quarters of negative growth, and reports of a pending reconciliation deal between Majority Leader Chuck Schumer and Senator Joe Manchin, AFP Vice President of Government Affairs Akash Chougule issued the following statement: “When Americans feel like they need to … Continue reading Random Grab Bag of Corporate Welfare and Tax Hikes Does Nothing to Address Inflation
DonnyFerguson.com 