August 12, 2022

We Cannot Continue Wasteful Taxing and Spending Amidst a Recession

Friend, 

Today the House passed a new tax and spending bill. My concern with this bill is that the taxes will ultimately be paid by hard working families in Wisconsin. Further, the hundreds of billions of dollars in new government spending will only further increase inflation. 

Below are a few of the tax provisions I have concerns with: 

• Gas Tax - The oil superfund tax would create $12 billion in new taxes on American energy, increasing prices at the pump and costs for every day items  
• Higher Taxes on Businesses & Manufacturers  - $200+ billion tax on American small businesses and manufacturers. This would impact over 4.7 million businesses who employ nearly half of America's workforce. 
• Additional Funding for the IRS - $80 billion for the IRS to hire 87,000 new agents to audit Americans' tax records. To put this in perspective, Lambeau field seats 81,000 people. 
• Tax Credits for New Electric Cars - Provides a $7,500 tax credit for the purchase of new electric vehicles through 2032. 

Washington needs to change course. I recently asked Wisconsin families how rising costs are impacting their budgets. 

This bill would be a bad idea any time, but it is even worse to do it right now. Washington continues to spend amidst record inflation. High gas prices are an issue for Americans every day. Implementing solutions to lower gas prices should be a top priority for Congress. We need to unleash American energy. Congress needs to rein in reckless spending to reduce costs so people can afford the things their family needs.

I recently spoke on the House Floor and shared my concerns. 

As always, if you need assistance working with a federal agency or would like to share an opinion with me, please do not hesitate to reach out to my office. 

On Wisconsin,

Bryan Steil
Member of Congress

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