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Congressional Democrats Will Worsen Inflation Crisis With Revived Socialist Reconciliation Package

Senate Democrats have revived Joe Biden’s ‘Build Back Broke’ agenda – and it will only cause inflation to skyrocket further. IT’S SIMPLE: This Socialist wish-list will do NOTHING to address the inflation that is crushing America’s families and workers, and it will only further our economic crisis. HERE ARE THE FACTS:

  • Raises taxes on businesses when Americans are already paying more for just about everything.
    • These tax increases will be passed on to the consumer, stifle reinvestment in infrastructure, R&D, and workers, and only exacerbate the current supply chain crisis.
  • Allows the IRS to hire 87,000 new agents to target American families and businesses.
  • Implements socialist price control schemes for prescription drugs that will negatively impact seniors, patients, those with rare diseases, and their families.
  • Extends Obamacare subsidies—enacted under the American Rescue Plan and set to expire after 2022—for at least two more years, benefiting the wealthy and subsidizing people who already have insurance.
    • This expands federal spending without enacting any meaningful reform to a broken system.
    • Incites inflationary pressure when inflation is already at a 40- year high.
  • Spends $369 billion in “Green New Deal” initiatives. Americans deserve efficient, affordable, and American-made energy, yet Democrats continue to pursue policies that have doubled gas prices since Joe Biden took office and destroyed U.S. energy independence.