Congressional Democrats are on the verge of imposing tax increases on households making less than $400K, setting up President Biden to break his tax pledge.
House Democrats just passed the following: Highest personal income tax rate in the developed world: 57.4% Highest capital gains tax rate since the 1970s. “The average top marginal combined tax rate on capital gains would be nearly 37 percent.” Violates Biden’s middle class tax pledge to oppose any and all tax hikes on Americans making…
The Biden administration’s proposal to have the IRS snoop on bank accounts would hit an estimated 87 million Americans earning less than $400,000 per year and could hit up to 134 million Americans earning less than $400,000, according to an analysis by the Joint Committee on Taxation (JCT) requested by House Budget Committee Ranking Member Jason Smith (R-Mo.).
By a 2-1 margin, voters believe additional IRS funding for auditing and tax law enforcement will impact the middle-class, despite Democrats’ claims that it would be aimed at the wealthy.
Poll: Majority of Voters Believe Energy Taxes in Reconciliation Bill Will Increase Consumer, Small Business Energy Costs
Voters overwhelmingly believe that the two energy taxes included in Democrats’ reconciliation bill will increase energy prices and home heating costs.
The Democrats’ socialist spending package includes trillions of dollars in tax hikes and new spending on superfluous government projects such as subsidies for electric bicycles and planting trees.
Democrats' multi-trillion dollar tax and spend bill includes a nearly $13 billion energy tax on crude oil, a tax hike that will be paid by consumers in the form of rising gasoline prices.
"I ask that you avoid adding divisive IRS account reporting requirements to the package"
NIH Commissioned Research Shows BBB Tax On Quitting Smoking Will Lead To 2.5 Million Additional Smokers, Over 1.5 Million Preventable Deaths
Americans For Tax Reform today called on House Democrats to accept the science as detailed in extensive reports commissioned by the U.S. Government’s National Institutes of Health (NIH) and the Food & Drug Administration (FDA) and vote AGAINST the Build Back Better Act (H.R. 5376) due to its disastrous impact on public health. H.R. 5376 is expected to be voted on later this evening.
The Democrat multi-trillion dollar tax and spend bill includes an $8 billion energy tax on natural gas production according to projections from the Congressional Budget Office, a tax that will be paid by American households in the form of higher energy bills.
Today, Americans for Tax Reform led a coalition letter in opposition to Democrats' plan to impose price controls, a 95 percent excise tax, and inflation penalties on American pharmaceutical manufacturers. Democrats are attempting to include this plan in their socialist tax-and-spend bill. The letter was signed by 51 organizations.
On page 1,957 of the reconciliation bill, Democrats have included a $1.67 billion special tax handout to media companies, under the guise of helping "local" journalists. In reality the provision is a product of the DC lobbying swamp and will benefit large media corporations.
House Speaker Nancy Pelosi (D-Calif.) and Democrat leadership want to force a vote on their socialist multi-trillion tax and spending bill this week even though the Congressional Budget Office has announced they will not release a score of the legislation until Friday.
Democrats have included a tax break for trial lawyers in their multi-trillion-dollar socialist tax and spend bill.
The Democrats’ socialist tax-and-spend package is over 2,000 pages and contains billions of dollars in tax increases that will harm working families in the form of higher prices, lower wages, and fewer jobs.
If the Democrats' tax-and-spend reconciliation bill is enacted, the average top tax rate on personal income would rise to 57.4 percent, according to the Tax Foundation.
The latest version of the Democrats socialist tax and spend bill contains $800 billion in tax increases on corporations.
Americans for Tax Reform today called on House Democrats to match their rhetoric with their votes and vote NO on new taxes on people quitting smoking.
The reconciliation bill working its way through the U.S. House calls on the American taxpayer to subsidize Democrats' media allies.
Despite firm opposition from the American people, the Biden administration and congressional Democrats are still trying to insert IRS bank account snooping into the reconciliation bill, a top Treasury official said Wednesday during a panel sponsored by the Center for American Progress.
The Democrat multi-trillion dollar tax and spend bill includes a 95 percent excise tax and price controls on American medical innovation. This proposal mirrors H.R.3, legislation pushed by House Speaker Nancy Pelosi (D-Calif.) and progressive lawmakers.
Not only do Americans overwhelmingly oppose the concept of taxing unrealized gains, the nation's top progressive tax policy group says the idea pushed by Dem Senator Ron Wyden "won't work."
Democrats are pushing a tax on unrealized gains. This “mark to market” regime, or wealth tax would force Americans to pay taxes every year on the paper gain in the value of assets (i.e. stocks, collectibles, real estate).
Today Americans for Tax Reform released a video compilation of on-the-street interviews from local news reports showing firm, categorical opposition to the concept of IRS snooping on their bank accounts. The Democrats’ new $10,000 threshold changes nothing. Excerpts from the video: “I don’t see what business it is of anyone’s what…
The health care policies being pushed by House Democrats in the reckless, multi-trillion dollar tax and spend reconciliation bill will kick 2.8 million Americans off of their current health plans and force them into government run healthcare, according to a recent letter from the Congressional Budget Office (CBO). These policies…
Last week, Ways and Means Committee Republicans held a meeting to discuss the Democrats’ socialist drug price-setting plan, which House Democrats have included in their $3.5 trillion tax and spend reconciliation bill. This plan, H.R. 3, creates a 95 percent excise tax on manufacturers and imposes an international reference pricing scheme that directly imports foreign price…
Americans for Tax Reform today released a new TV ad blasting the Democrats' tax-and-spend plan to impose higher business taxes than communist China. The ad also calls out the Democrat plan to give special tax subsidies to reporters.
According to media reports, Democrats are reducing the total cost of their plan from $3.5 trillion to as low as $1.9 to $2.2 trillion. However, they are not actually seeking to reduce total federal spending – instead they are simply utilizing budget loopholes and gimmicks to create the illusion that the bill will cost less.
Democrat proposals to increase the tax rate for the Global Intangible Low-Taxed Income (GILTI) provision will make America less competitive, increase tax complexity for American businesses, and cost jobs and wages.
Pennsylvania companies will get stuck with higher taxes than communist China if the Democrats' reconciliation bill is enacted.
Congressional Democrats and President Biden are pushing a reckless, multi-trillion-dollar tax-and-spend plan that will raise taxes on working families and small businesses and create vast new welfare programs that will exacerbate inflation.
New York companies will get stuck with higher taxes than communist China if the Democrats' reconciliation bill is enacted.
Let's review the economic research.
If Manchin gets his way on a corporate income tax rate increase, he will have to explain why he just increased West Virginians' utility bills
President Biden constantly accuses others of not “paying their fair share” of taxes and even claims tax increases are “patriotic.” But Biden himself could owe up to $500,000 in unpaid taxes, according to a new report by the Congressional Research Service, published in the New York Post.
If Sen. Joe Manchin votes for the Democrats' reconciliation bill, he will stick West Virginia companies with a higher tax rate than communist China.
If Sens. Raphael Warnock and Jon Ossoff vote for the Democrats' reconciliation bill, they will stick Georgia companies with a higher tax rate than communist China.
plan and said Americans will move to low-tax areas of the country so they can "hold on to just what they are earning. Not to have it just taken from them by the government."
If Sens. Kyrsten Sinema and Mark Kelly votes for the Democrats' reconciliation bill, they will stick Arizona companies with a higher tax rate than communist China.
President Joe Biden and congressional Democrats are demanding $3 trillion in tax increases on families and businesses. The largest tax hike in over 50 years.
The corporate tax rate increase and the capital gains tax rate increases in the Democrat reconciliation bill will leave states represented by swing-vote Democrats with significantly higher taxes than China.
As part of the $3.5 trillion reconciliation package, Democrats have included several provisions that would increase the Death Tax.
In an interview on Fox Business Network’s ‘Fox Business Tonight,’ ATR President Grover Norquist highlighted several troubling aspects of Democrats' $3.5 trillion reconciliation package. Specifically, he warned of Democrats’ plans to impose drug price controls based on international prices, creating a 95 percent excise tax on manufacturers that do not sell drugs at the government-set price.
Congressional Democrats plan to double the Federal Tobacco Tax – a clear violation of President Biden’s pledge to not raise taxes on anyone earning under $400,000This will disproportionately harm the poorest Americans and increase income inequalities: 72% of smokers are low-income earners. In some states poorer smokers already spend one quarter…
Congressional Democrats have proposed a tax credit for "local news journalists" at newspapers with up to 750 employees. Yes, a special tax cut for reporters.
Democrats’ drug price controls in the $3.5 trillion blowout would lead to 167 to 324 fewer new drugs, according to an issue brief by Tomas J. Philipson and Troy Durie at the University of Chicago.
Tucked within the Democrats $3.5 trillion tax-and-spend plan is the largest expansion of the Internal Revenue Service in history.
Today the Joint Committee on Taxation confirmed that corporate tax rate hikes diminish the wages of workers. Testifying before the House Ways & Means Committee, JCT Chief of Staff Thomas A. Barthold said: “Literature suggests that 25% of the burden of the corporate tax may be borne by labor in…
As the United States is emerging from an unprecedented health emergency, it would be hard to believe that anyone would concoct a plan to penalize people for engaging in what the Food and Drug Administration (FDA) specifically authorizes as a method to significantly reduce the risk of persons contracting cancer, heart disease, and a myriad of other illnesses.
$3.5 trillion reconciliation package. They have included H.R. 3, legislation that creates a 95 percent excise tax on manufacturers and imposes an international reference pricing scheme that directly imports foreign price controls into the U.S.
Congressional Democrats are about to unveil a federal corporate income tax rate hike from 21% to 26.5%. This would leave the U.S. at a competitive disadvantage vs. China and Europe.
House Democrats are proposing almost $3 trillion ($3,000,000,000,000) in tax increases including tax increases on small businesses and working families. This would be the largest tax increase since 1968 compared to the size of the economy and the largest tax increase ever in nominal dollars.
President Joe Biden routinely talks about the need to create more quality, high-paying manufacturing jobs. If the president is serious about achieving this goal, why is he pushing policies that will destroy high-paying manufacturing jobs in the oil and gas industry? Biden has already pushed policies that have harmed these jobs including the killing…
President Joe Biden is expected to release a “human infrastructure” plan in the coming weeks that spends as much as $2 trillion. This proposal will likely include new tax increases and foreign price controls on American medicines that will harm patients, manufacturers, and the American healthcare House Democrat lawmakers…
51 percent of voters believe that Democrats’ $3.5 trillion tax-and-spend plan will make inflation worse, according to a new poll conducted by HarrisX.
House Democrats are proposing a new energy tax as a means of financing their $3.5 trillion ($3,500,000,000,000) tax and spending spree, according to a fact sheet released by Democrats on the House Energy & Commerce Committee.
By an 80-20 margin voters oppose tax increases as the U.S. comes out of the pandemic, according to a new poll conducted by HarrisX.
ATR today led a coalition of over 120 center-right organizations, activists, and state lawmakers in opposition to the numerous tax hikes on American families and businesses.
Media reports indicate that Democrats will attempt to increase the federal corporate income tax rate from 21 to 25 percent. This would hurt American workers and small businesses and leave the U.S. at a competitive disadvantage vs. China and Europe.
Rep. Suozzi Threatens to Oppose $3.5 Trillion Package if SALT Deduction Cap is not Repealed
The U.S. economy added just 235,000 jobs in August. This is a far cry from estimates which predicted the economy would add 720,000 jobs. The US is still 5.2 million jobs short from its pre-pandemic employment.
Big Labor is lobbying lawmakers to include this tax break so that union members can deduct the cost of dues from their taxable income. This tax break would be “above the line,” meaning that taxpayers could take this deduction regardless of whether they itemized their deductions.
During his campaign, President Biden promised the American people that he would not raise taxes on small businesses. Now he is violating that promise, and next week House Democrats will vote on the framework to make the tax hikes possible.
All 50 Senate Democrats support President Biden's plan to monitor bank accounts, Venmo accounts, and other financial accounts with a value exceeding $600.
If President Biden raises the corporate income tax rate, Americans will get hit with higher utility bills as the country tries to recover from the pandemic.
President Biden's FY 2022 budget proposed 29 tax increases on top of the 28 percent corporate tax proposal, including a global minimum tax, doubling the capital gains tax, creating a Second Death Tax, and more. In the Senate Democrat's $3.5 trillion plan, many of these tax hikes will be included.
Submitted by IMorales The $3.5 trillion tax hike being pushed by President Biden and congressional Democrats would be the largest tax increase since 1968. In nominal dollars, Biden’s $3.5 trillion tax increase would be the largest in history. But even when comparing this tax as a percentage of the economy, this tax hike…
Thanks to President Joe Biden’s policies, American families and small businesses are seeing rampant inflation that is reducing purchasing power and stretching budgets. While the Left has dismissed this inflation as “transitory,” if Biden and Congressional Democrats have their way and pass their reckless $3.5 trillion tax and spending plan, this…
President Joe Biden and congressional Democrats demand trillions of dollars of tax increases be imposed on American businesses and working families. Biden routinely claims that this tax hike is about making corporations "pay their fair share."
The Biden administration is pushing a misguided 21 percent global corporate minimum tax on American businesses. At the same time, the administration is pushing for a global agreement amongst foreign countries to set a foreign minimum tax rate of 15 percent.
ATR today released a coalition letter signed by 71 organizations and activists urging members of Congress to oppose H.R. 3, the Lower Drug Costs Now Act.
President Joe Biden has proposed doubling the capital gains tax as part of his so-called “American Families Plan.” Under his proposal, the top federal capital gains tax will be 43.4 percent including a 39.6 percent long-term capital gains rate and the 3.8 percent Obamacare net investment income tax. Biden also calls for increasing taxes on carried interest capital gains.
House Democrats led by Energy and Commerce Committee Chairman Frank Pallone (D-NJ), Ways and Means Committee Chairman Richard Neal (D-Mass.), and Education and Labor Committee Chairman Bobby Scott (D-Va.) today reintroduced H.R. 3, the “Lower Drug Costs Now Act.”
Price controls on prescription medicines proposed by President Trump and House Speaker Nancy Pelosi (D-Calif.) could have a significant negative economic impact on key states including Florida, Pennsylvania, Michigan, and North Carolina.
Posted by Tom Hebert House Speaker Nancy Pelosi’s plan to levy a 95 percent tax on drug manufacturers could prevent 100 lifesaving medicines from being created over the next decade. The White House Council of Economic Advisors has released a report on H.R. 3, the disingenuously named Lower Drug Costs Now Act. While Pelosi claims…
House Speaker Nancy Pelosi’s drug pricing legislation, HR 3, the “Lower Drug Costs Now Act,” imposes a new excise tax on manufacturers of up to 95 percent of sales for refusing government price setting.