Mr. President, I ask unanimous consent that the order for the quorum call be rescinded. Mr. President, as I was home last week for Thanksgiving, traveling the State of Wyoming, talking to many folks, I heard a lot, got an earful from…
Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.
Mr. President, as I was home last week for Thanksgiving, traveling the State of Wyoming, talking to many folks, I heard a lot, got an earful from people about the Democrats' reckless tax-and-spending bill that is being proposed and that Senator Schumer has said he wants to get passed before Christmas. Well, if that is the case, it is going to be a long December.
The people of Wyoming do not like this bill because they are finding out more and more about what is in it and how it is going to impact their lives. So I come to the floor today to talk about a couple of things that the American people have heard and the people in Wyoming have been tuned in to dramatically, and that is wanting to know what does it cost.
Just before Thanksgiving, the nonpartisan Congressional Budget Office released its report about the cost of the bill, and the report confirmed what Republicans who had read through it have expected. It is jam-packed with phony accounting gimmicks, and it seems like the Democrats have used just about every trick in the book to deal with the true cost of the massive amounts of money the Democrats are trying to spend in this bill with one giveaway after another and, additionally, entitlements--new entitlements that the country cannot afford.
Even with all the gimmicks used, the spending is still hundreds of billions of dollars added to the debt--not just hundreds of billions of dollars of spending, hundreds of billions of dollars added to the debt. This is a violation of the speech that Joe Biden has given repeatedly, that his press people have said repeatedly, that the Speaker of the House has said repeatedly, because they continue to say and the President has said and the Secretary of the Treasury just yesterday said the cost of the bill would be zero. I can remember seeing President Biden on television saying the cost is zero, zero, zero. The budget office even says it is hundreds of billions of dollars added to the debt.
But watching this unfold, as the President and the Democrats have tried to force this bill onto the American public, there have been three big lies coming out of the President's mouth repeatedly on this. One is, he said it would cost zero. The second, he said it wouldn't raise taxes on anybody making less than $400,000 a year. The third thing, he said it wouldn't add to inflation.
Well, the President has been wrong on all of those. Hundreds of billions of dollars onto the debt--hundreds of billions of dollars. It does raise taxes on the middle class. The budget analysts and the tax analysts who looked at this say at least one in three Americans in the middle-income areas will be paying more in taxes. And it will certainly increase inflation.
I would point out that the people at home are feeling the biting impacts of inflation. It is hitting their lives. It is hitting their pocketbooks. They noticed it over the Thanksgiving holiday. People in Wyoming are going to the gas station to fill up their truck, and it is $100--$100 dollars every time you fill up.
People drive great distances to work in Wyoming. I think we are the State that has the most miles driven, average, for any State over the course of a year, more miles driven in Wyoming by Wyoming residents, so we know what happens when gas prices go up a dollar and a quarter.
Prices are up at the store as well, up a dollar and a quarter at the grocery store. I don't know if you know that the Dollar Tree store has actually changed it to a dollar and a quarter for what they are charging for things.
That is what we are getting under this administration with its reckless positions and policies.
Yesterday, the Treasury Secretary, at the Banking Committee, said that this would not add to the debt. You know, the American people don't believe it. Poll after poll says the President is not being honest with them, in their opinion. That is what they are seeing, and the budget report confirms it. The American people do not want more debt, more taxes, and more spending which results in higher costs for them.
When the President said it wouldn't actually raise taxes on people making up to $400,000 a year, there are the direct taxes, which the budget analysts point out to us, but there are also the taxes that are going to be raised by the IRS fund, putting the American people under the microscope, because in this bill that the Democrats are proposing, it super-sizes the Internal Revenue Service to go after American taxpayers to try to squeeze more money out of honest people so they can spend it on things like five new entitlements for illegal immigrants. The bill would nearly double the size of the IRS, and the money is going to enforcement.
Now let's talk about some of the tax breaks that are in this. Who is going to benefit the most with tax cuts that are actually in the bill? Because the President says there are tax cuts in it. Well, there are. Nancy Pelosi's California--the millionaires there benefit a lot. People of New York benefit a lot. People of New Jersey benefit a lot. The millionaires in those three States will see significant cuts in their taxes, as middle-income people pay more, which gets us to the third big concern about what the President is continuing to say to the American people, which is where he says that it will not add to inflation.
People can see through this. They see what they are paying. They see that inflation is coming.
I would note that yesterday, the Chairman of the Federal Reserve said that this idea about temporary inflation is wrong. Oh, no--here to stay. People get it, and they don't like it. They don't like it when they are thinking about what is going to happen if they are trying to shop for Christmas. Can they get what they want to buy, and what is it going to cost?
Well, the President has said that 17 Nobel laureates said the bill wouldn't add to inflation. But then his comments were fact-checked, as so many things we say are fact-checked, and what those economists, the Nobel economists, actually said was that it wouldn't add to inflation if the bill were fully paid for, and it is not, because the budget officials have pointed out that the bill is going to add hundreds of billions of dollars to the debt.
As I started this, I talked about the fact that I was home for Thanksgiving. Well, this Thanksgiving has been the most expensive ever for the American people, and people are now really worried about what is going to happen come Christmas.
The price of gas is at a 7-year high. Natural gas is at a 7-year high. It is getting colder. Winter is here. What is going to happen with heating costs?
Hard to believe that in just 10 months as President, Joe Biden has taken inflation to a 30-year high. According to one estimate, families are paying about $175 more each month because of inflation since President Biden took office. That is about a $2,000 bite out of the paychecks for every working American over a year.
Now, it is interesting, when you kind of dig into the meat of what is in this bill, the Democrats want to make energy even more expensive than it is now. So if we are at a 7-year high for the cost of gasoline and a 7-year high for the cost of natural gas, what is
going to happen when the new taxes and regulations on American energy go into effect at a time when President Biden is begging Russia, Vladimir Putin, and Saudi Arabia to produce more oil to sell it to us? It is a jackpot for Putin. That is what we have--Joe Biden's jackpot payday for Vladimir Putin at the expense of the American people. So there are families who are going to have to decide this winter whether they are going to be able to afford to eat or to heat their homes.
The Democrats' tax-and-spending bill is going to raise taxes across the board, and a lot of it is aimed at small businesses, mom-and-pop operations. What are they going to do with the taxes that come at them? Well, of course, they are going to pass them on to the customers. What is that going to do to the cost when the customer comes in? The cost is going to go up, and therefore you have inflation.
Another part of what the Democrats are proposing, which will make inflation worse, is they are going to increase government spending. More spending. More debt. More printing of money by the Federal Reserve. More dollars facing fewer goods. Prices will go up.
One of the things that we are starting to hear about as people learn more about it is the increased cost of childcare under the President's proposal, by about $13,000 per family. Look, this is already a huge expense for working families, but the bill could nearly double it. That is because it includes a Federal takeover of childcare in America.
In total, the bill would create more than 150 new government programs. It is interesting that it uses the words ``tax,'' ``fee,'' and ``penalty'' 637 times.
When the President said Build Back Better, I looked at this as a bill that is going to break the back of American families 637 times--tax, fee, penalty. From top to bottom, this bill is a laundry list of more taxes, more debt, more government control over our lives. The people of Wyoming do not like it and do not want it. This is not what the American people are asking for. They don't like its content; they don't like its cost; and the more they learn about it, the less they like it.
It is interesting because the day after the budget office came out with their report, the Democrats rushed the bill through the House, saying: We have got to get this through here before people see what is in it. Every Republican is united against it. Every Republican voted against it in the House, and actually, there was a Democrat who voted against it as well. So the opposition is bipartisan.
Now, the bill comes to the Senate. Here we are. I promise you it will hit a buzz saw of resistance from Republicans in this body.
So Democrats in the Senate have to make a decision. As people in our States struggle to pay for Christmas, the Democrats who are pushing this reckless proposal have to decide whether or not they want to ignore the suffering that has been created by this administration with increased prices, by causing prices to go up even higher as well as taxes to go up as well.
The American people know that President Biden has not been truthful with them about the bill--about what he has said about the cost, about what he has said about taxes, about what he has said about inflation. Poll after poll says they don't believe him because they know the bill is going to add hundreds of billions of dollars to the debt; they know it is going to raise taxes on the middle class; and they know it is going to make the pain of inflation even worse.
If Democrats pass this bill, everyone in this country will end up paying for it, one way or another.
The last thing the American people need for Christmas is higher taxes, more debt, and higher prices. The last thing the American people are asking for is this reckless tax and spending.
I yield the floor.