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I hope you saw my latest weekly column.

 

ROGER WICKER: Democrats Push Trillions in New Spending and Power Grabs
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Eight months after triggering inflation with his $1.9 trillion stimulus bill,
President Biden is now ordering up round two with his reckless tax-and-spending
proposal. The 2,135-page proposal would raise taxes on millions of Americans,
inject our economy with $200 billion of inflationary spending next year, and
add $800 billion to the national debt by 2026. Although it is being advertised
as costing $1.7 trillion, more honest estimates put the price tag near $4
trillion – two-thirds the size of the entire federal budget.

With inflation already at a 31-year high, more overspending is the last thing
Congress should consider. Even prominent liberals are sounding the alarm.
Moody’s Analytics, a group often cited by the President, predicts this bill
would further drive up inflation next year. Steve Rattner, a former advisor to
President Obama, recently said the Biden Administration “should come clean with
voters about the impact of its spending plans on inflation.” Despite all this,
Mr. Biden is insisting with a straight face that his bill would actually reduce
inflation. Moderate Democrat Senator Joe Manchin gave a fitting response: “I’ll
have to check on that one.”

Biden Soaks the Middle Class

President Biden has pledged not to raise taxes on the middle class, but that
is exactly what his bill would do. Under his plan, nearly one-third of
middle-class families would see a tax increase while most millionaires would
actually get a tax cut. Meanwhile, the President’s bill would slap $1.2
trillion in new taxes on job creators. U.S. small business owners would pay the
highest taxes in the developed world at over 57 percent. Some companies have
already signaled that passage of this legislation would force them to cut
investments in innovation, leading to fewer jobs and lower wages. No wonder
small business groups are coming out in droves against this bill.

Biden Escalates War on Energy, Discourages Work

At a time when energy costs are already soaring, the President’s bill would
drive up prices even further. His proposal would tax natural gas production
while banning new oil and gas drilling off most of the U.S. coast – a recipe
for higher gasoline and home heating costs. At the same time, the bill would
use tax dollars to fund green energy companies to the tune of $320 billion. And
it would subsidize the cost of high-end electric vehicles, which most
middle-class families cannot afford.

It gets worse. The Biden proposal would strip away work requirements for
welfare and the Child Tax Credit, upending 25 years of bipartisan consensus.
This would discourage many Americans from finding work at a time when there are
a record number of unfilled jobs. The Democrats have also included a paid leave
mandate, which would put the federal government in charge of when and why
employees can take leave. And their proposed federal takeover of child care
would leave parents with less control over their own family decisions.

Not Mississippi Values

Speaker Nancy Pelosi once said, “Show me your budget, show me your values.”
From top to bottom, the President’s reckless, big government bill does not
reflect the values of America or Mississippi. It is hard to imagine a more
harmful bill at a time when our economy is still recovering and inflation is
through the roof. I am committed to seeing this bill defeated.

 

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Thank you for your support,

Senator Roger Wicker

 

 

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