House Budget Committee Republican Leader Smith Statement on Democrats' $5 Trillion Tax & Spending Bill
WASHINGTON, D.C. – House Budget Committee Republican Leader Jason Smith (MO-08) issued the following statement today after U.S. Senator Joe Manchin (D-West Virginia) announced his decision not to support the Democrats’ $5 trillion tax and spending bill, citing the recent analysis from the Congressional Budget Office (CBO) detailing the true cost of the proposal.“Senator Manchin’s decision not to support the Democrats’ reckless tax and spending bill is a win for working families across America.
“The CBO analysis Senator Graham and I requested confirmed many of Senator Manchin’s concerns and the concerns of many Americans, chief among them that Washington Democrats were concealing the true cost of the bill behind budget gimmicks, shell games, and early sunsets to costly programs.
“The American people are already grappling with the highest spike in consumer prices in 40 years as a result of reckless government spending. The Democrats’ tax and spending bill, which would cost $5 trillion and add $3 trillion to the national debt would not only make inflation worse, but exacerbate the other crises facing working families at the border, the gas pump, and the labor market.
“It is time for Democrat leaders in Congress and President Biden to set aside their partisan agenda and work with Republicans to help working families, tackle rising inflation, and address the out-of-control debt that threatens our country’s economic prosperity and security.”
Click here to watch Budget Ranking Members Smith and Graham discuss the true cost of the Democrats’ tax and spending bill.
