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Dems Set Biden Up to Break Tax Pledge

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.

Toolkit: Here’s What’s in the Dems’ Big Bill

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…

IRS Bank Snooping Would Hit at Least 87 Million Low- and Middle-Income Americans

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.).

Poll: Voters Say IRS Enlargement Will Hit Middle Class

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.

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.

Dem Reconciliation Bill Contains $8 Billion Home Heating Tax

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.

ATR Leads Coalition Opposing Price Controls on Medical Innovation

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.

Reconciliation Bill Gives Special Tax Handout to Big Media

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.

Democrats Target Retirement Savings in Tax-and-Spend Package

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.

50-State List of Top Tax Rates Under Democrat Bill

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.

Dems Still Pushing IRS Bank Account Snooping, Says Treasury Official

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.

10 Problems with Taxing Unrealized Gains

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).

VIDEO: Americans Oppose IRS Snooping on Their Bank Account

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…

CBO: Dem Healthcare Policies Will Kick Millions of their Healthcare Plans, Increase Deficit

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…

Ways and Means Republicans Discuss Danger of Dem’s Socialist Drug Price Controls

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…

Democrats Attempt to Mislead Public on Cost of Socialist Tax and Spend Bill

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.

Dem Investment Tax Will Hurt Everyday Investors

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.

It’s Time for Biden to Close His Personal Tax Gap

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.

50 Cent Opposes Biden Tax Hike Plan

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."

Under Dem Bill, Key States to Face Higher Taxes than China

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.

Norquist Warns of Dem Drug Price Controls, New IRS Reporting Regime

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.

9 Facts About The Democrats $96 Billion Tobacco & Vaping Tax Grab

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…

VIDEO: JCT Confirms Dem Corporate Tax Hike Hits Workers

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…

Science Denying Democrats Propose Whopping 2000% Tax Hike On FDA Approved Reduced Risk Products

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. 

Dems Propose $3 Trillion Tax Hike on Working Families and Small Businesses

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.

Biden’s energy tax hikes threaten jobs, inflation and US independence

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…

Terrible Jobs Report Shows Now is the Wrong Time to Raise Taxes

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.

Democrats Propose a Tax Break for Big Labor

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. 

Biden and Pelosi Set to Impose Tax Hikes on Small Businesses

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.

JCT Analysis: Biden Corporate Tax Hike Would Hit the Middle Class

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. 

Biden to Impose Largest Tax Increase Since 1968

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…

Biden’s reckless tax-and-spend plan will make inflation worse

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…

Five Reasons to Reject Biden’s Capital Gains Tax Increase

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.

Drug Price Controls Could Cost Jobs in Key States

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.

Pelosi 95% Drug Tax Will Lead To 100 Fewer Cures Created

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…

Pelosi Drug Pricing Plan Contains 95% Manufacturer Excise Tax

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.