Rep. Boebert: ‘Cost of Living Is About to Soar’

Rep. Boebert: 'Cost of Living Is About to Soar' lauren boebert stands outside capitol at press conference Rep. Lauren Boebert, R-Colo., attends a news conference with members of the House Freedom Caucus outside the U.S. Capitol on March 17, 2021, in Washington, D.C. (Chip Somodevilla/Getty Imag

By Jeffrey Rodack | Tuesday, 04 May 2021 02:39 PM

Rep. Lauren Boebert, R-Colo., is accusing President Joe Biden of lying when he said he would just raise taxes on anyone making more than $400,000.

Boebert’s claim came in a tweet Tuesday afternoon. She wrote: "Biden isn’t just raising taxes on the rich. He is raising taxes on everyone. The $400,000 number has been proven to be a lie. Be prepared. The cost of living is about to soar."

Boebert provided no substantiation for her claim. Biden has continually vowed not to raise taxes on those making less than $400,000 a year.

Jared Bernstein, one of Biden’s economic advisers told reporters in April that although Biden is willing to compromise when it comes to his infrastructure bill, he will not agree to any tax increases for people earning less than $400,000 per year.

"He said, and I quoted this … 'compromise is inevitable.' And that’s part of how Joe Biden works. I mean, he will always reach across the aisle, try to cooperate," said Jared Bernstein, a member of the Council of Economic Advisers, while outside the White House, according to The Washington Times.

"But a couple of points on this: One, if you have a different pay-for, bring it to the table, but it can’t violate the $400,000 line in the sand, right?" Bernstein said. "He has consistently argued that any of the tax increases have to hold harmless people below 400K. So that’s going to be a rule he’s not going to bend on and that’s probably the right way to think about it."

Biden previously rejected the idea of raising the tax on gas during a meeting with legislators earlier this week, and has proposed a hike in the corporate tax rate to 28% in order to raise about $2.5 trillion to offset the $2.3 trillion bill. Congressional Republicans have vowed to push back on any attempt to raise the corporate tax rate, which the GOP tax bill in 2017 lowered from 35% to 21%.

White House Press Secretary Jen Psaki said that Biden isn’t looking to "fund the bill on the backs of the American people."

She added, "He’s certainly eager to hear ideas from Democrats and Republicans on alternatives."

Biden has been pushing for free preschool for all three- and four-year-old children, a $200 billion investment as a part of his American Families Plan.

The administration said the investment would benefit 5 million children and save the average family $13,000. It calls for providing federal funds to help the states offer preschool, according to The Associated Press.

It would be paid for by hiking taxes on very high-income households, the AP reported.

Original Article