ICYMI: Biden’s tax hike slows economic growth, cuts employment

March 12, 2021 — Blog

Key Takeaways:  New findings from the Tax Foundation show that increasing the corporate tax rate from 21% to 28% would reduce GDP, the broadest measure of goods and services produced in the country, by nearly 1% and eliminate 159,000 jobs. It would also reduce workers' wages by 0.7%. Hiking the tax rate paid by corporations to 28% would cause the federal-state ...

Rep. Smith: Reopening the Economy Key to Helping States & Funding Infrastructure

March 12, 2021 — Blog

Democrats Should Hold Second Hearing Where Rural Communities Can Be Heard Our priority needs to be helping workers reconnect to employees as our economy reopens, argued Rep. Adrian Smith (R-NE), Republican Leader of the Subcommittee on Select Revenue Measures for Ways and Means, at a recent hearing on “Tax Tools to Help Local ...

Brady on CNBC: Democrats Will Hike Taxes Further Than $60 Billion Already Hidden in New Law

March 12, 2021 — Blog

Ways and Means Republican Leader Kevin Brady (R-TX) appeared on CNBC's Squawk Box to discuss the economic harm looming from Democrats' hidden tax increases in the recently enacted so-called "relief package," only 9 percent of which goes towards dealing with coronavirus. Key Takeaways: We know we need to focus on the vaccines and distribution. On the economic side, we ...

Brady: President Biden’s call for unity has been an absolute fraud

March 11, 2021 — Blog

WASHINGTON--In response to President Biden's national address, Ways and Means Republican Leader Kevin Brady (R-TX) issued the following statement: “It's time to call it: President Biden’s call for unity has been an absolute fraud. “Despite the success of five previous bipartisan bills totaling $3.5 trillion, Democrats hijacked relief efforts and rejected GOP efforts in this bill to get ...

Brady: Democrats’ Political Payoff Leaves Americans Behind and Sends Them the Bill

March 10, 2021 — Blog

Less than a dime of every dollar goes to Covid vaccines and defeating the virus in Democrats’ $1.9 trillion bill, and it doesn’t do anything to stimulate the economy, according to Ways and Means Republican Leader Kevin Brady (R-TX). Today's bill, he noted, won't lift people out of poverty, but only create more barriers to getting out of it. Those historically left behind in our economy ...

Walorski: Fighting Poverty Should Focus on Programs that Work

March 10, 2021 — Blog

Americans in poverty and looking for a step up are relying on policymakers to invest in programs that work, according to Worker and Family Support Subcommittee Republican Leader Jackie Walorski (R-IN) during a hearing on Health Profession Opportunity Grants (or HPOGs). These grants provide funding for training and supportive services to low-income individuals so they can succeed in the workforce, ...

5 Key Takeaways from the February 2021 Jobs Report

March 09, 2021 — Blog

The February Jobs Report showed that the economy is recovering, and prioritizing vaccines for workers would go a long way. According to the report: We’re still coming up short on jobs. The unemployment rate remained at 6.2 percent. Unemployment rates for women, minorities, and the nation overall were much lower prior to the pandemic. Further vaccine ...

Brady on Fox: Partisan Dem Tax Hikes Will Follow $1.9T Political Payoff

March 09, 2021 — Blog

Democrats will push for tax increases immediately following passage of their partisan $1.9 trillion bill, warned Ways and Means Republican Leader Kevin Brady on Fox Business. In an interview with Neil Cavuto, Brady outlined how the Democrats' bill will do nothing for the economy, and their push to increase taxes will make the economy even worse. To watch the full interview,

Op-Ed: Tax increases are the wrong medicine for our struggling economy

March 08, 2021 — Blog

Key Takeaways:  After TCJA, U.S. GDP grew 4.1% in 2019 after increasing 5.4% in 2018, unemployment reached a 50-year low of 3.5%, and with 6 million new jobs. Lowering the corporate tax rate from 35% to 21% made America more internationally competitive. President Biden and some in Congress are proposing to raise the corporate rate to 28%, which would undo much ...