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EXCLUSIVE: Leading Republican contenders to head the House Ways and Means Committee when the GOP takes over the House are pushing Democrats’ plans to raise tax rates if the party retains control of Congress.
As the House prepared to vote Friday on Democrats’ massive welfare spending and tax bills, Rep. Richard Neal, D-Mass., chairman of the House Ways and Means Committee, told a Bloomberg reporter that his party would lose control of the Congress retained after the midterm elections, he would push for increases in corporate and individual tax rates.
But the GOP is sounding the alarm about this idea and trying to contrast “tax and spend” Democrats and Republicans.
“Of course, before President Biden even signs his inflation bill, Democrats are already planning their next tax hike,” Rep. Adrian Smith, R-Neb., told Fox News Digital in a statement.
AMERICANS FEAR IRS WILL USE INFLATION REDUCE ACT FUNDING TO TEST AVERAGE AND LOW-INCOME TAXPAYERS
“Americans everywhere are struggling, paying more for necessities like gas and groceries, and congressional Democrats are so absent-minded that they care more about raising taxes than working on policies to get our economy back on track. The stakes couldn’t be higher – we must stop their reckless tax and spending agenda. -Rep. Adrian Schmidt
Rep. Adrian Smith, Jason Smith, R-Mo., and Vern Buchanan, R-Fla., are the top contenders to lead the House Ways and Means Committee if Republicans take control in November, according to a senior GOP executive assistant should win over the congress . Fox News Digital reached out to Buchanan, but his office didn’t immediately respond.
“The ink isn’t dry on Washington Democrats’ latest $745 billion tax and spending bill, and they already have their sights set on another round of crushing tax hikes,” Rep. Jason Smith told Fox Digital.
“Unfortunately, it’s not surprising that the same Washington Democrats who are doubling the size of the Internal Revenue Service so it can screen more middle-class families and spy on their bank accounts are determined to force more family tax increases. This is incredibly annoying. They haven’t learned their lesson after fueling the economy and triggering the worst inflationary crisis in 40 years with their reckless spending. When the Republicans take back control of Congress, we will fight for policies that lower wages increased, bringing prices down and kickstarting our economy back on track,” he said.
DEMOCRAT PROMISES MORE TAXES IF PARTY STAYS IN POWER: REPORT
The current senior committee member, Rep. Kevin Brady, R-Texas, is not seeking re-election but also drew a contrast between the GOP and Democrats, who “celebrate” higher taxes.
“House Democrats are celebrating all of these higher taxes, all of these government price fixes, none of which, by the way, are going to lower inflation, the fiscal deficit, or global temperatures much over the next century. But who on earth raises taxes in a recession?” Brady told Fox News Digital in a statement.
The Inflation Reduction Act was passed along party lines on Friday in the House of Representatives after clarification in the Senate on Sunday Vice President Kamala Harris cast a decisive vote. Launched last month as a greatly scaled-down version of the Build Back Better agenda, it was agreed upon by Sen. Joe Manchin, DW.Va., and Senate Majority Leader Chuck Schumer, DN.Y., and includes a proposed expansion of the IRS.
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The Manchin-Schumer bill going to President Biden’s desk for signature is $80 billion increase in the IRS over a period of 10 years to help the agency tackle tax evasion.
If the law passes, the money allocated would be used to fill 87,000 IRS positions, significantly increasing the agency’s current size of under 80,000 employees. The Treasury Department says some new hires would replace about 50,000 IRS employees expected to retire in the next five years.