Providing for Consideration of H.R. Build Back Better Act; and for Other Purposes
Floor Speech
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Mr. RESCHENTHALER. Madam Speaker, I thank my good friend, Ranking Member Smith, for yielding.
Madam Speaker, it was just 4 short years ago that Speaker Pelosi tweeted, ``Republicans shouldn't vote without an updated CBO score.'' Those were the Speaker's own words 4 years ago.
The Speaker even doubled down later in that tweet. She accused Republicans of attempting to ``jam this bill through without an updated CBO score of its impacts.'' Again, that was the Speaker 4 years ago.
Apparently, the Speaker has forgotten those words, because later today, Democrats plan to ram through this Big Government tax-and-spend proposal with no information from the nonpartisan CBO about the true cost and the true economic impact their spending spree will have on the American people.
So I guess it is fair to say that the Speaker subscribes to that age- old adage, ``do as I say, not as I do.''
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Mr. RESCHENTHALER. Madam Speaker, I thank my good friend and fellow Rules Committee member, Dr. Burgess, for yielding me the time.
Madam Speaker, let's just look at the cost of this. This bill comes in at $4.1 trillion. That is more than double what my friends across the aisle claim this comes in at. And how do we pay for this?
I will tell you how, crippling taxes and budget gimmicks. This bill would levy $420 billion in tax increases on our Nation's small businesses, $800 billion in tax hikes on American companies, as well.
So what does this mean for Americans? What does this mean for the American consumer? Well, it means fewer jobs. It means higher prices. It means more reliance on China for our everyday goods.
If you thought that today's sky-high inflation, if you thought that our supply chain crises were bad, just wait until this bill goes into effect. H.R. 5376 includes a new tax even on retirement plans. It bans production of domestic energy, and it raises taxes on natural gas. All of these policies, all of them would be disastrous for American job creators, disastrous for American workers, and disastrous for American families.
But it is not bad news for all Americans, Madam Speaker. Millionaires and billionaires have it made under this bill. This bill restores the SALT deduction, giving the wealthy up to $72,500 in tax breaks each year. These are the individuals that benefit under this, the wealthy, the elite.
This legislation also includes $550 billion in green subsidies, ensuring that the top 1 percent that already benefits under this bill can put another Tesla in their garage.
You can clearly see where the Democrats' priorities lie. It is not with the American worker. It is with the American top 1 percent elite. Americans deserve better.
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