Biden’s Socialist Spending Spree Is Poisonous for America
Washington, November 18, 2021
The following opinion piece by Rep. Budd was published in Townhall:
When Joe Biden was campaigning for president, Democrats said the Biden presidency would be a return of the so-called “adults” to the White House. Biden promised to be a politically moderate leader focused on bipartisanship and bridge-building. Eleven months into his first year in office, nothing has been further from the truth. President Biden’s multi-trillion-dollar Build Back Better (BBB) Act is a partisan, fundamental transformation of America, entrenching a socialist welfare state into the fabric of society, while punishing the working class and strapping mountains of debt to future generations.
The most insidious part of Biden’s plan is the overwhelming increase in the size, scope, and power of the IRS. Even The New York Times admitted that the plan “depends in large part on having a beefed-up Internal Revenue Service.” This means that every taxpayer in the country would be at the mercy of more than 80,000 new IRS employees and billions in new funding to treat law-abiding citizens like white-collar criminals. What’s most curious about this heavy-handed approach is President Biden’s bizarre claim that his $2 trillion bill “costs zero dollars.” So the Biden administration is preparing to sic thousands of IRS agents on the American people to supposedly pay for a bill that he claims costs nothing. This would be funny if it weren’t so serious.
Democrats have claimed for years to be the party of the working class. Yet under a Republican president, Republicans passed a tax cut for nearly 90 percent of Americans, raised incomes across the board for Americans at every level, and led to the fastest wage growth in decades for the low-income workers. The Democrats’ reckless tax-and-spend bill does the opposite. It gives tax cuts to the wealthiest one percent. For example, repealing the cap on the State and Local Tax (SALT) deduction is a bailout to limousine liberals who live in high-tax blue states. According to the Center for Budget and Policy Priorities, if Democrats are able to remove the cap, “the top 5 percent of households would receive over 80 percent of the benefit,” a nearly $600 billion tax cut for the rich.
As Biden and Democrats try to muscle through a billion-dollar giveaway to their rich donors, the Build Back Better Act will saddle the hardest workers in our country with higher taxes. According to the left-leaning Tax Policy Center, nearly a third of middle class households would see a tax increase in 2022. This bill also includes over $400 billion in new taxes on main street job creators. This bill includes new taxes on natural gas and adds additional regulatory burdens on domestic energy production. This will inevitably result in higher prices at the gas station and on winter utility bills when taxpayers are already paying higher prices at the pump. On the international stage, undermining U.S. energy means we are more reliant on bad actors like Russia and petty Middle East cartels like OPEC. Again and again, President Biden and congressional Democrats are putting America, and our citizens, last.
This bill also attacks the American way of life, not just our wallets. In the middle of a historic border crisis, the BBB offers amnesty to millions of illegal immigrants who knowingly broke our laws and entered the country illegally. At a time when the number of abortions are increasing, the BBB Act allows taxpayer funding for abortion by refusing to include bipartisan Hyde Amendment protections. Democrats keep claiming to want to help those who need it the most, but discard the needs of politically inconvenient constituencies like the unborn.
And if that was not enough, economists from across the political spectrum have confirmed that the spending provisions in the Build Back Better will exacerbate the runaway inflation that is burdening American consumers across the country. The price of gas, groceries, and utilities will continue to soar while wages will not be able to keep up. Bottom line: Inflation is a tax on American consumers and it will skyrocket should the Build Back Better become law. This plan will hinder the already anemic economic growth that we have seen in the first year of the Biden administration.
The so-called Build Back Better plan is the inevitable byproduct of a president who thinks that the government is the solution to every problem. Even moderate Democrats have hesitated for months to pledge their support for it because of its enormous price tag and disastrous economic implications. Simply put, this bill is poisonous for the American people, and it should never come anywhere near the president’s pen.