U.S. Representative Mike Bost (IL-12) voted against Democrats’ tax and spending bill. The legislation contains funding for the IRS to hire an additional 87,000 agents, a 15% minimum tax on book income, drug price controls, a natural gas tax, and billions of dollars for Green New Deal provisions.
“President Biden and D.C. liberals will stop at nothing to make their Green New Deal dreams a reality, even if it means crushing struggling American families in the process,” said Bost. “This bill is packed with taxes that will kill jobs and raise energy prices and price controls that will sabotage the development of new lifesaving medications and cures. When 40-year high inflation is already making it nearly impossible for Americans to pay their bills, fill up their cars, and put food on their tables, this spending spree is not the solution. It will only make a bad situation worse.”
Provisions in the bill:
- Funding for the IRS to hire 87,000 new agents, which will mean 1 million new audits of people making $200,000 or less
- 15% minimum tax on book income
- Drug price controls that would kill the development of up to 342 lifesaving drugs and cures
- $27 billion slush fund for a National Climate Bank to dole out money for pet projects and special interest groups
- $396 billion for green special interests without guardrails to ensure the funding doesn’t go towards Chinese companies
- Natural gas tax
- $500 million slush fund for the Biden Administration to use the Defense Production Act to carry out their radical climate agenda in the name of a “national emergency”
- $500 million for DHS to carry out “sustainability and environmental programs” instead of securing the border and enforcing immigration laws
- $3 billion for a new fleet of electric postal trucks
Original source can be found here.