CBO Report: tax increase for people under $400K, Scalise;

On 8/12/2022, House Republican Whip Steve Scalise gave a speech on the House Floor slamming Biden, Speaker Pelosi, and Congressional Democrats’ big government, socialist spending spree. Whip Scalise criticized Democrats for raising taxes on struggling American families, workers, and small businesses to pay for their far-left, radical agenda. In addition, Whip Scalise blasted President Biden and Speaker Pelosi for seeking to hire 87K IRS agents to audit low and middle-income families, and for instituting energy taxes that would raise gasoline prices and household utility costs at a time when inflation is skyrocketing. “They don’t have a full CBO report on this bill. You heard the old adage, ‘You got to pass the bill to find out what’s in it.’ That’s what they’re doing today. That’s why they’re rushing this bill through today. It doesn’t even have a [full] review from the Congressional Budget Office!
“But just a few hours ago, we got this, and it was a confirmation that the IRS agents will be getting about $20 billion in new taxes from people making less than $400K. That’s right, the CBO just confirmed it a few hours ago.
“So, President Biden, who made that promise multiple times, ‘If you make under $400K. Don’t worry, your taxes don’t go up.’ This bill breaks President Biden’s promise. It’s confirmed by the CBO, and there was an amendment to stop it from happening, and every Democrat voted against it. They wouldn’t allow us to bring that amendment here on the floor because they’re ramming it through because they don’t want people to know what’s inside of this bill.
“[There is] $700-plus billion in new taxes. [There are] budget gimmicks that say for the new taxes [that are] over 10 years, they’re only going to count for three years of spending, which means if you account for [the] full 10 years, it increases the deficit. And, of course, during inflation and this crisis we’re facing economically, this bill will increase inflation and gas prices. Let’s reject the bill [and] go back to the drawing board. I yield back the balance of my time.”
“In fact, they have a multi-billion-dollar new tax on energy. [I] haven’t heard one person in America saying that they want to pay more money for gasoline, yet they’re putting billions in new taxes on energy. So, you’ll be paying not only more for gasoline, but you’ll be paying more for utility bills in your household, which are already skyrocketing because of President Biden and Speaker Pelosi’s radical, far-left spending [that] they’ve already done the last year and a half.
“$250 billion in cuts to Medicare drugs. That’s right! For seniors, this bill cuts $250 billion out of Medicare drug spending to help people in higher income brackets be eligible for more Obamacare subsidies. So, [that’s] a massive wealth transfer away from seniors to higher income people to get subsidies for Obamacare.
“And then let’s talk about these 87K IRS agents. You think in just about any NFL Stadium in America, filled completely with new IRS agents. That’s right, more than doubling the size of the IRS to go after lower-income people. And they love saying on the other side, ‘Don’t worry, it’s not going to touch them.’ There’s only one problem, it doesn’t stand up to the facts!
“There was an amendment in the Senate, right here. [It was a] very simple one-page amendment to protect people making under $400K from new audits by the IRS. This amendment was voted down on a party-line vote because they want that army of 87K IRS agents going after lower-income people, and in fact, the smoking gun came out this morning.
On 8/12/2022, Republican Rep. Lauren Boebert had her mic cut on the House floor as she blasted the Democrats' Inflation Reduction Act. The Colorado Republican argued that encouraging inflation data was evidence that the bill didn't need to be passed. 'Mr Speaker, isn't it so? Joe Biden himself said inflation rates is at 0 percent. So what the heck are we doing here? Why are we passing the so-called Inflation Reduction Act if it's at O percent,' Boebert said.
'The gentlewoman's time has expired,' the chair said, banging a gavel, interrupting the Colorado congresswoman. Boebert continued to plow through her speech.
'And it does the exact opposite of what Americans need right now. This is just another con game by the Democrats calling something one thing and saying another. This is making the IRS - with armed agents - larger than the Pentagon, the State Department, the FBI,' she continued, shouting over the gavel and other members yelling.
Her mic was eventually cut. The Republicans then gave her 30 additional seconds to finish up. 'I can only see why this was rushed through committee and put on the floor ...,' Boebert said, getting cut off, as she had run out of time. Boebert relented, with Democratic Rep. John Yarmuth up next.
The House of Representatives on Friday passed the $740 billion Inflation Reduction Act bill which will raise taxes on the middle class and make inflation worse. The Senate passed the ‘Inflation Reduction Act’ through budget reconciliation last week and Pelosi brought it to the House floor on Friday.
CBO Report: tax increase for people under $400K, Scalise; Lauren Boebert's House mic is CUT.
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