Self-Inflicted Crises of the Biden Administration
Floor Speech
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Mr. BAIRD. Madam Speaker, I want to thank my colleague for giving me the opportunity to speak.
Madam Speaker, at a time when Americans are facing the highest inflation rates in decades and small businesses are struggling to recover from the devastating impact of COVID-19, House Democrats will soon consider the most radical spending package in American history.
Unfortunately, instead of giving families and businesses a hand up by getting able-bodied Americans back to work and taking steps to resolve our supply chain crisis, Democrats' far left socialist package will do little more than exacerbate our inflation crisis and harm the growth of small businesses.
Earlier this month the University of Pennsylvania's Wharton School of Business released a model that found the bill will cost more than twice the estimated cost. If that is not bad enough, the Tax Policy Center recently found that this spending spree would raise taxes on middle- class Americans by up to 30 percent.
This anti-growth package will destroy thousands of jobs, burden many business owners with restrictive taxes intended to help pay for this bloated spending bill, and will surely be a death knell for many businesses on struggling Main Street and hardworking Americans struggling to contend with soaring inflation rates.
Month after month we have watched the Biden administration deliver disappointing jobs reports with the labor force participation rate falling to 61.6 percent in September alone. This labor shortage is only fueling our economy and supply chain crisis, but instead of encouraging Americans to get back to work, President Biden and House Democrats are including provisions that discourage unemployed Americans from finding a job.
If Democrats really want to build back better, they should be championing policies that actually help our small business owners and the middle class, not exacerbating the problems they are struggling to overcome.
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