The Democrats’ proposed $3.5 trillion reconciliation bill is the Left’s ultimate wish-list compiled into one massive tax, borrow, and spend bill.
If passed, this bill will raise your taxes, skyrocket inflation, add well over a trillion dollars to the national debt, and be the largest expansion of the welfare state since LBJ. President Biden dubs this bill as the “Build Back Better Act,” but a more accurate description is the “Bankrupt America Act.”
We’ll lay out for you some of the most extreme provisions in the bill. For a more comprehensive list of all the policies, visit here (note: the bill’s legislative text is not finalized, and these provisions may change).
Most Americans will feel the hit if the tax provisions in this bill become law. On the campaign trail last year, President Biden promised taxes wouldn’t be raised on people making under $400k. That is a lie. Even Congress’ Joint Committee on Taxation, agrees that taxes will go up on families making $50k or more each year.
Here are some of the tax provisions that will directly affect working Americans’ paychecks:
As mentioned, this bill is poised to be the largest expansion of the welfare state since LBJ. The Biden administration claims that it is all paid for, but that has been widely debunked.
What’s worse is the topline number for the bill––$3.5 trillion dollars––is not the real cost of the package. Democrats are using a budget trick to get down to this number.
Many of the provisions in the bill expire after a few years, but a future Congress controlled by liberals would likely extend them. The true cost of this bill could end up costing well over $5 trillion.
Here are some of the biggest and most egregious spending items:
In summary, the Democrats’ reckless $3.5 trillion delivers a one-two knockout punch. This will slow the economy, kill jobs, and increase energy prices. Then they will expand the welfare state with unprecedented spending to get more and more Americans dependent on the government.
It’s a horrible recipe for the future of our country and that’s why we need to do everything we can to stop this bill from becoming law.
Heritage: Budget Reconciliation Tracker
Heritage Action: www.SaveOurPaychecks.com
Joe Biden promised he wouldn’t raise taxes on people earning less than $400k––but Congress’ Joint Committee on Taxation, agrees that any family making over $50k a year will see tax increases under this bill.
The spending in this bill is not paid for and will likely add over a trillion dollars to the national debt. After a year and a half of unprecedented government spending due to COVID, our country cannot afford trillions more.
This bill will be the largest expansion of the welfare state since LBJ. The Democrats want to make more and more Americans dependent on the federal government, and they want entitlements like the child tax credit which have no work requirement.
This bill imposes Green New Deal taxes and mandates that will raise your monthly gas and electric bill. President Biden wants to punish traditional energy producers and subsidize more costly and inefficient ‘green’ energy. Energy prices for EVERYONE will increase.
Trillions more in government spending will drive up inflation and raise prices for everyday goods––a dollar just won’t go as far. The working class and retirees who are living on a fixed income will be hurt the most.
.[MEMBER], please oppose the $3.5 trillion tax, debt, and spending bill. We should not be saddling our children with trillions more of debt to pay off. The national debt is at nearly $29 trillion. Enough is enough!
On the campaign trail, @JoeBiden promised he wouldn’t raise taxes on anyone making under $400k a year. But Biden’s $3.5 trillion tax, debt, and spending bill breaks that promise! It will raise taxes on families making just $50k a year. [MEMBER], reject this bill—don’t raise my taxes!
Fact: Under the Democrats’ $3.5 trillion tax, debt, and spending bill, our nation’s corporate tax rate will be higher than communist China. Don’t make America less competitive! Oppose this disastrous bill [MEMBER].
Gas prices are already soaring in 2021. But Biden wants to raise them even more by taxing energy producers! You must reject this $3.5 TRILLION tax, debt, and spending bill [MEMBER].
President Biden calls the extreme $3.5 trillion tax, debt, and spending bill the “Build Back Better Act.” A better name for this reckless bill is the “Bankrupt America Act.”
There are only two ways to get $3.5 trillion—tax Americans or grow the national debt.
In this case, Democrats in Congress have decided to do both.
If passed, it will add well over a trillion dollars to the national debt, and impose trillions of dollars worth of taxes on every single American.
Out-of-control spending will drive inflation and squeeze paychecks––a dollar just won’t go as far.
Every American’s monthly electric and gas bill will also rise. This bill imposes Green New Deal style taxes and mandates on our energy producers. Energy prices have already risen 25% the past year––we can’t afford even higher prices.
As for spending, this bill is poised to be the largest expansion of the welfare state since LBJ. For example, under this bill the child tax credit (enacted temporarily with the American Rescue Plan) will become permanent.
This “tax credit” has no work requirement, and so it functions more like a universal basic income than it does a true tax credit. But Congress branded it as a “tax credit” because nanny-state programs are unpopular, and rightfully so. Congress is trying to make more Americans dependent on the federal government.
The Left has put in every progressive wish-list item imaginable. They want to spend $3.5 billion dollars for a “Civilian Climate Corps” (whatever that means) and $12 billion to electrify the Postal Service vehicle fleet. These are unnecessary and a waste of our hard-earned taxpayer money.
They are even trying to use this spending bill to grant amnesty to over 8 million illegal immigrants.
The entire transformative progressive agenda is in this bill—it has nothing to do with infrastructure or rebuilding America.
Americans should oppose it and Congress should reject it.