Washington, D.C. – Congressman Darin LaHood (IL-18) voted against the so-called "Build Back Better" plan, a trillion-dollar tax and spending plan. The plan breaks President Biden's promise to not raise taxes on the middle class and is not fully paid for as Democrats claim. LaHood released the following statement after his vote:
"As the holidays approach, we have a border crisis threatening our national security, workforce shortages, raging inflation - raising the cost of everyday goods on all Americans, and a supply chain crisis harming our economy. Instead of stepping back and working with Republicans to address the real-life issues American families are facing, President Biden and Democrats are pressing ahead with the most radical legislative agenda in my lifetime.
"Coming out of the COVID-19 pandemic, Americans do not need tax hikes. However, the so-called Build Back Better plan clearly violates President Biden's promise to not raise taxes on middle-class families. Democrats’ reckless, multi-trillion-dollar tax and spending binge will raise taxes on Illinois farmers, workers, and small businesses while subsidizing the wealthiest individuals on the coasts. Moreover, this bill is not paid for as Democrats claim and it will only further bankrupt our children and grandchildren. The so-called Build Back Better Agenda is a bad deal for Illinois and American families."
During floor debate, Rep. LaHood spoke in opposition to the bill. The remarks can be viewed here.
Background:
- President Biden pledged to not raise taxes on individuals making less than $400,000. This bill clearly violates that pledge, potentially raising taxes on up to 30% of middle-income earners according to the Tax Policy Center.
- Democrats continue to push the lie that the Build Back Better is fully paid for, and costs $0. The CBO estimates the bill would raise the deficit.
- According to an analysis by the Washington Post and the Committee for a Responsible Federal Budget, the second most expensive item in Democrats’ reckless tax-and-spend agenda is a multi-billion dollar handout to America’s wealthiest earners. They write: "The rich are poised to gain more from the SALT cap increase than lower-income people are from other elements of the bill..."
- Small businesses struggling to get back on their feet after COVID will get hammered with crippling tax hikes. There are over $400 billion in small business tax hikes in this bill that will all harm small businesses in the 18th District.
- Includes a minimum tax on U.S. companies harms American consumers and workers. This tax on anything “Made in America” would ensure that more of the everyday things we use are made in China and delivered on container ships.
- A University of Chicago analysis found the Pelosi drug plan “would lead to a 29 to 60 percent reduction in R&D from 2021 to 2039 which translates into 167 to 342 fewer new drug approvals during that period.”
- The largest expansion of the welfare state in our lifetime. Democrats are creating two new entitlement programs that disconnect government benefits from work.
