WASHINGTON, D.C. – Today, top Republican on the House Ways and Means Committee Rep. Kevin Brady (R-TX) appeared on CNBC’s Squawk Box to discuss how Democrats’ wasteful spending and job-crippling tax hikes will hurt American families and small businesses.

“These are the biggest crippling tax hikes in our lifetime and we will lose millions of jobs here in Main Street America.

 

“We’re going to see millions of jobs move overseas—the opposite of what happened under President Trump’s tax cuts where, all of a sudden, America became the most competitive economy in the world and there was a giant sucking sound of jobs, manufacturing, investment, research, headquarters back in the United States. All that gets reversed…

 

“On fighting these tax hikes, it’s just all about jobs. We are, as Republicans, united to try to stop these.”

CLICK HERE to watch the full interview.

KEY TAKEAWAYS:

Democrats’ Tax Hikes Will Fall on the Middle Class and Small Businesses:

• Democrats’ second death tax will destroy more than 1 million jobs over the next 12 years, slash paychecks for workers, and shrink our economy by $100 billion over the next decade.
• Studies show that the capital gains tax alone would shrink the economy by $124 billion. The left-leaning Tax Policy Center writes that Biden’s proposal raises taxes far past the amount necessary to maximize revenue. Past analyses by the Congressional Budget Office and the Joint Committee on Taxation agree.
• The left-leaning Tax Policy Center found that Biden’s tax plan will raise taxes on 75 percent of middle-class families next year, rising to 95 percent of middle-class families by 2031 – contradicting his pledge not to raise taxes on middle-class Americans.
• The Joint Committee on Taxation says that within 10 years of a corporate tax increase, 66.3 percent of the corporate tax burden would be borne by lower- and middle-income taxpayers.

READ: Fact Sheet: Pelosi’s Budget is a Green Light for Taxes on Working Families & Main Street

The Last Thing Americans Need Coming Out of a Pandemic Are Higher Taxes to Pay for Democrats’ Runaway Spending:

• As President Biden and Democrats try to push through another multi-trillion-dollar spending bill, Americans have already received unprecedented government relief from Congress.
• Democrats’ runaway spending is shrinking the paychecks of America’s working families, with surging inflation and consumer prices increasing the most in 13 years. Even former economic advisers to Democrats have warned their tax-and-spend agenda will fuel even higher inflation.