Today, in its official re-estimate of the President’s FY23 budget – which is a blueprint for the Biden Administration’s plans for the country and the policies Washington Democrats have been pursuing for the past two years – the Congressional Budget Office confirmed that the proposed levels of spending, debt, and taxes in the President’s Budget … Continue reading Nonpartisan Analysis Confirms Biden’s Agenda Will Worsen Economic Crisis Caused by Democrats’ Failed Policies
Category: Taxation
Legislation would codify Crapo amendment to prevent IRS funding from targeting Americans earning below $400,000 Washington, D.C.--U.S. Senate Finance Committee Republicans, led by Ranking Member Mike Crapo (R-Idaho), introduced a bill to prevent the Internal Revenue Service (IRS) from using its massive, $80 billion infusion of taxpayer dollars to squeeze more revenue out of American taxpayers who … Continue reading Finance Committee Republicans Introduce Bill to Protect Middle Class, Small Businesses from Supersized IRS
Joe Biden is expected to sign Democrats’ inflation scam bill today. In doing so, Biden is breaking one of his core campaign promises: not raising taxes on anyone making less than $400,000 a year. According to the nonpartisan Congressional Budget Office, Democrats’ so-called Inflation Reduction Act will create an additional $20 BILLION in new taxes on middle-class … Continue reading Senate Dems’ New Big-Government Bureaucrats Will Target Working Families
House Budget Committee Republican Leader Jason Smith (MO-08) issued the following statement today after the Congressional Budget Office (CBO) confirmed this morning that a sizeable portion of the supposed savings from expanded IRS enforcement – at least $20 billion – in the Democrats’ Inflation Act will come from increased audits on Americans making less than … Continue reading CBO Confirms Democrats’ Plan for More IRS Audits Will Hit Americans Earning Less Than $400,000
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
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
On Monday, U.S. Sen. Ron Johnson (R-Wis.) sent a letter to Internal Revenue Service (IRS) Commissioner Charles Rettig requesting information on the backlog of tax returns preventing millions of Americans from receiving refunds. Over the last 18 months, Congress has appropriated substantial additional funding to improve IRS processing operations, but no noticeable improvements have been … Continue reading Sen. Johnson Presses IRS on Backlog of Tax Returns
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 Ben Sasse (R-NE) and U.S. Senator Chris Van Hollen (D-MD) introduced a resolution to encourage the President to begin negotiating a tax agreement with Taiwan.“Our economic partnership with Taiwan is one we should always look to strengthen,” said Senator Sasse. “Taiwan is a democratic success story, an economic success story, and our eighth largest trading … Continue reading Sasse and Van Hollen Call for US Tax Agreement with Taiwan
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