Tax Plan Will Set Back Economy

Floor Speech

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Mr. BERGMAN. Mr. Speaker, I rise today to share my concerns with the far-left tax hikes proposed by the majority.

To help pay for their partisan spending sprees, the President and Democrats in Congress have proposed to double the tax on investment and raise our business tax rate to the highest in the developed world.

On top of this, they wish to repeal the stepped-up basis, a move that will disproportionately hurt family-owned farms and businesses.

The radical tax agenda will stifle investment and slow down our economic recovery at a time when communities across our country continue to feel the effects of the pandemic and government lockdowns.

It will also hurt American competitiveness abroad and force even more businesses and jobs overseas. Increasing taxes on Americans while prices are rising faster than they have in more than a decade isn't just irresponsible; it is dangerous.

The Democrat tax plan will hurt workers and small businesses, diminish our position as a global business leader, and set our economy back for decades to come.

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