Rep. Jim Jordan: Democrats' Social Spending Plan Will 'Raise Your Taxes' Rep. Jim Jordan, R-Ohio, speaks at a House Judiciary Committee hearing at the U.S. Capitol on Oct. 21, 2021, in Washington, D.C. (Michael Reynolds-Pool/Getty Images)
By Charlie McCarthy | Monday, 15 November 2021 07:29 AM
House Democrats' plan to pass a $1.75 trillion social spending package this week amid rising inflation will raise taxes for Americans, Rep. Jim Jordan, R-Ohio, said Sunday.
Speaker Nancy Pelosi, D-Calif., and her fellow party members in the House plan to pass President Joe Biden's Build Back Better legislation on social spending and climate change.
"The bill we have coming next week, the so-called Build Back Better, they're getting ready to raise your taxes," Jordan said Sunday on Fox News. "So for all the people who have been working, you’re now going to get a tax increase."
Jordan, ranking member on the House Judiciary Committee, added that Biden's Build Back Better agenda is "just craziness."
"[The Democrats'] economic plan is really lock down the economy, spend like crazy, pay people not to work," Jordan told Fox News.
The congressman also said that progressives’ "reckless spending" has led to "record inflation."
The nonpartisan Tax Policy Center last week said Biden’s spending package would raise taxes on a large percentage of middle-class families despite the president, during his campaign, having promised not to raise taxes on anyone making less than $400,000 per year.
"Taking into account all major tax provisions, roughly 20% to 30% of middle-income households would pay more in taxes in 2022," Tax Policy Center senior fellow Howard Gleckman said Thursday.
The Tax Policy Center analysis also said the tax burden would change in 2023 when proposed expansions of the Child Tax Credit payments would end. Also, one of the major tax increases in the bill, the corporate minimum tax on book income, isn’t scheduled to take effect until 2023.
"In general, the combined effects of these changes would result in many households paying higher taxes in 2023 than in 2022," the TPC analysis said. "They would shrink the average 2023 tax cuts for low-income households, raise taxes slightly for moderate-income households, and increase taxes significantly for the highest-income households."
Although the House expects to pass Biden's spending legislation this week, the Senate likely will not decide its fate until next month.
Inflation woes might keep moderate Sen. Joe Manchin, D-W.Va., from supporting the bill until next year.
That report comes from Axios, which had sources saying Manchin prefers to use the final days in session through December to work on more pressing issues.