Biden’s Bankrupt Bill
This week, Washington Democrats rammed through Congress the largest tax-and-spending bill in American history. This bill brings about a fundamental change to the relationship between the Federal Government and working-class families across the country by inserting federal control into every stage of our lives – from the cradle to the grave. It is without a doubt the worst piece of legislation I have ever seen.
President Biden refers to this as his BBB Act – “Build Back Better”. But the 3 B’s of his plan more accurately stand for something different. This bill Bankrupts the economy, Benefits the wealthy, and Builds the Washington bureaucracy.
For the last two months, we’ve been waiting for the Congressional Budget Office – Congress’ official scorekeeper – to release its analysis of this bill, and on November 18 they did. Their report gave independent confirmation to what we’ve known for months: this 2100+ page bill will bankrupt the economy. Washington Democrats used budget gimmicks and shell games to hide the true cost of this bill. Even the New York Times concluded that Democrats are using budgetary tricks to try and hide the true cost of their bill. The reality is the bill calls for more than $4.5 trillion in new spending out of Washington. At the same time it hits American families and job creators with $1.5 trillion in new taxes and adds $3 trillion to our debt. The Congressional Budget Office confirmed that this bill was nowhere near ‘paid for’ as the White House claimed, and that it actually exploded our debt by $800 billion in just 5 years. All of this at a time when Washington spending is already fueling the inflationary fires driving up prices. Working families have seen food prices go up over 7 percent since Joe Biden became President. In Missouri, it’s even worse – the costs of goods have risen over 8 percent and seniors in the Show-Me State are facing energy prices that are 20 percent higher this winter.
Nancy Pelosi has said a budget is a statement of your values. So, what do the priorities in this bill say about the Democrat Party? They are the party who wants to Benefit the wealthy. The ten richest Congressional districts in the country are represented by Democrats. And these values are reflected in their tax and spending plan. The second-largest program in this entire bill is a tax cut for millionaires – the top 1%. They also expanded a deduction for the wealthy to buy luxury electric vehicles. They even allowed wealthy Americans to qualify for taxpayer-funded handouts for home buying, childcare, Obamacare, and taxpayer-funded paid leave. And when I talk about the values in this bill, it says a lot that the tax cut for millionaires will cost more than the Child Tax Credit and the Earned Income Tax Credit COMBINED!
But on top of all the handouts and giveaways to their friends and special interests, this bill is really about one thing: Building the bureaucracy and giving Washington more command and control over the lives of the American people. This bill creates over 150 new government programs, and every one of these are intended to become permanent fixtures in Americans’ lives. Government-run pre-schools. Climate activists hired as federal bureaucrats. A methane tax without protections for our farmers and ranchers. Backdoor amnesty through renewable visas for illegal immigrants. The list of misguided and dangerous priorities goes on an on. And this bill was passed in spite of the fact that 60% of Americans in a recent poll said the Biden agenda was growing the government too big. Well, it’ll only get bigger with this bill from Washington Democrats.
When all is said and done, the people who will be hurt most by this massive tax and spending plan are the hard-working Missourians who start their day before the sun rises and end their day when it sets. It’s the millions of people around the country that the Washington elite have left behind. The message I hear over and over from Missourians is they just want the government off their backs. This bill does the opposite. As the Republican Leader of the Budget Committee, I continue to lead the fight against this monstrosity, and as the fight against this bill now moves to the U.S. Senate, I will continue doing everything in my power to stop the largest expansion of government in decades.
