Build Back Better Act
Floor Speech
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Mr. SCALISE. Madam Speaker, I thank my friend from Kentucky (Mr. Guthrie) for yielding.
I rise in strong opposition to this bill that will absolutely increase the deficit. It will absolutely increase inflation, and this bill will absolutely increase energy costs. In fact, they have a multibillion-dollar new tax on energy.
I haven't heard one person in America saying they want to pay more money for gasoline, yet they are putting billions in new taxes on energy, so you will not only be paying more for gasoline, but you will be paying more for utility bills for your household, which are already skyrocketing because of President Biden and Speaker Pelosi's radical, far-left spending they have already done the last year and a half.
But it doesn't end there.
$250 billion in cuts to Medicare drugs--that is 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 a massive wealth transfer away from seniors to higher- income people to get subsidies for ObamaCare.
Then let's talk about these 87,000 IRS agents. You think of just about any NFL stadium in America filled completely with new IRS agents. That is right, more than doubling the size of the IRS to go after lower-income people. They love saying on the other side: Don't worry. It is not going to touch them.
There is only one problem: It doesn't stand up to the facts.
There was an amendment in the Senate, right here, very simple, a one- page amendment to protect people making under $400,000 from new audits by the IRS. This amendment was voted down on a party-line vote because they want that army of 87,000 IRS agents going after lower-income people.
In fact, the smoking gun came out this morning. They don't have a full CBO report on this bill. You heard the old adage that you have to pass the bill to find out what is in it. That is what they are doing today. That is why they are rushing this bill through today. It doesn't even have a review from the Congressional Budget Office.
But just a few hours ago, we got this. It was a confirmation that the IRS agents will be getting about $20 billion in new taxes from people making less than $400,000. That is right. The CBO just confirmed it a few hours ago.
President Biden made that promise multiple times: If you make under $400,000, don't worry; your taxes don't go up. This bill breaks President Biden's promise. It is confirmed by the CBO.
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 are ramming it through because they don't want people to know what is inside of this bill.
$700-plus billion in new taxes--budget gimmicks that say, for the new taxes over 10 years, they are only going to account for 3 years of spending, which means if you account for the full 10 years, it increases the deficit. Of course, during inflation times and this crisis we are facing economically, this bill will increase inflation and gas prices.
Let's reject the bill and go back to the drawing board.
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