Taxpayer Watchdog Pans New “Compromise” Tax and Spend Agenda

For Immediate Release                                                                                              Contact: Courtney Mattison    (202-535-7492)

October 28, 2021                                                                                                                          

Washington, D.C. – The Taxpayers Protection Alliance (TPA) blasted the new framework announced by the administration and congressional Democrats today. Despite being marketed as a reasonable compromise between moderates and progressives, the package would spend exorbitant amounts of money at a time where our nation is facing rising inflation and a looming debt crisis.

In response, TPA Vice President of Policy Patrick Hedger offered the following comment:

“There is perhaps no greater illustration of the sad state of fiscal affairs in our nation than the fact that a $1.7 trillion spending package is considered reasonable. The release of this new framework comes on the heels of news that the economy is growing at the slowest rate since the pandemic recovery began. We are also dealing with rising inflation and supply shortages.

“Instead of working to remove red tape from around struggling American families and businesses, the administration and congressional Democrats spent months haggling over just how many trillions of dollars they were comfortable spending on partisan agenda items. This latest spending spree will do nothing to solve our current financial woes and will, in fact, exacerbate many of them.

“The new framework includes giveaways to special interest groups, the foremost of which are the wind and solar industries. They are getting billions from the American taxpayer despite never demonstrating an ability to compete on equal footing with other sources of energy. The proposal will also expand government involvement in healthcare, with extensions of failed Affordable Care Act (Obamacare) tax credits and yet another expansion of Medicare, despite the near insolvency of the program.

“The tax increases in the plan are unacceptable. The plan includes revenue from ‘tax compliance’ despite pushback from citizens and members of Congress from both parties.  Tax compliance is a not-so-subtle way to say that Congress wants to increase audits on hard working Americans and to try to sneak in onerous bank reporting requirements.  The millionaire tax is absolutely hypocritical considering that House Speaker Nancy Pelosi’s (D-Calif.) net worth is $120 million.  If, as a millionaire, Pelosi doesn’t think she is paying enough in taxes, she can always write a check to the U.S. Treasury. The rest shouldn’t be penalized for successful investments that have created countless jobs.”

“The American people deserve better than this from their elected officials. To introduce a package like this at this time is as tone deaf as can be. If congressional leaders are so intent on months-long negotiations, they ought to be seeking to address the real issues facing the nation, and actually get out there and face their constituents in town halls.”

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Taxpayers Protection Alliance (TPA) is a non-profit, non-partisan organization dedicated to educating the public through the research, analysis and dissemination of information on the government’s effects on the economy.