Democrats Tax Working Families’ Gas and Electricity to Subsidize Luxury Shopping for the Wealthy

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

FACT SHEET: Democrats’ Inflation EXPANSION Act Increases Debt by $114 Billion

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

Toomey: Housing Costs Will Escalate With Democrats’ Reckless Tax-and-Spending Bill

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

Nonpartisan Committee Confirms Nearly Half of New Taxes in Democrat Proposal Fall on US Manufacturers as America Spirals into Recession

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

Senators Call for Investigation into Stock Trading Platforms with Ties to China

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

Cruz: CHIPS corporate welfare bill ‘invites cronyism and corruption’

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’

Random Grab Bag of Corporate Welfare and Tax Hikes Does Nothing to Address Inflation

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

As Fed Hikes Rates to Combat Biden’s Inflation Crisis, Budget Office Confirms Worsening of America’s Fiscal Outlook

House Budget Republican Leader Jason Smith (MO-08) released the following statement after the Congressional Budget Office (CBO) released its latest long-term budget outlook detailing the nation’s dismal fiscal health, and the Federal Reserve increased interest rates by 75 basis points – the fourth increase since March. “Washington Democrats’ $2 trillion American Rescue Plan ignited inflation, … Continue reading As Fed Hikes Rates to Combat Biden’s Inflation Crisis, Budget Office Confirms Worsening of America’s Fiscal Outlook

Toomey: Gensler’s Refusal to Give Crypto Regulatory Clarity Hurt Consumers

Ahead of Thursday’s U.S. Senate Banking Committee hearing on risks and scams in the cryptocurrency market,Ranking Member Pat Toomey (R-Pa.) said investors have suffered from a continued unwillingness by the Securities and Exchange Commission (SEC) to give regulatory clarity to the cryptocurrency community and consumers. In a letter to SEC Chairman Gary Gensler, Ranking Member Toomey wrote … Continue reading Toomey: Gensler’s Refusal to Give Crypto Regulatory Clarity Hurt Consumers

Senate-Passed Corporate Welfare “CHIPS” Bill Won’t Help U.S. Companies Out-Compete China

The Senate today passed the CHIPS+ Act, a bill that would hand over tens of billions of tax dollars to domestic production of semiconductors. CEI Senior Fellow Ryan Young denounced the bill as unneeded corporate welfare: “The best policy for giving taxpayer money to private businesses is: Don’t. Unfortunately, the Senate seems to think the best way … Continue reading Senate-Passed Corporate Welfare “CHIPS” Bill Won’t Help U.S. Companies Out-Compete China