Sen. Marshall Statement on July Inflation Report
(Washington, D.C., August 10, 2022) – U.S. Senator Roger Marshall, M.D. released the following statement after the latest Labor Department report showed inflation rose 8.5% since July 2021.
“Inflation remains at its highest rate in decades since Joe Biden took office in January 2021,” said Senator Marshall. “In response, Senate Democrats are doubling down on their out of control spending that led to inflation in the first place. They just passed a massive $700 billion package that increases taxes on Americans, which will kill jobs and create higher prices. The tax and spend bill also hires thousands of new IRS agents to nickel and dime hard working Americans. This bill won’t help address any of the problems Kansans are actually facing, it will only make things worse.”
Senator Marshall joined Fox News to discuss the Biden Administration’s proposal to invest billions of dollars to expand the Internal Revenue Service (IRS) tax enforcement capabilities and the Democrats’ false claims that their massive tax and spend legislation will lower inflation. You may click HERE or on the image below to watch Senator Marshall’s full interview.
On expanding the IRS, Senator Marshall said in part,
“If you own a small business, if you’re a working class American, it’s going to cost you thousands of dollars to defend an audit…It’s just one more thing for Americans to worry about…After you target the first thousand billionaires in America, what are the 80,000 agents going to do the rest of the day, the rest of the year?”
On the Democrats’ false claims that their massive tax and spend legislation will lower inflation, Senator Marshall said in part,
“This legislation is inflationary. Mark my words. If you raise corporate taxes, it’s going to be passed onto Americans. It’s going to target manufacturing, which is going to drive up the prices for cars and planes…There’s new taxes on the oil and gas industry as well…The only thing consistent about this White House is their inconsistent messaging.”
Background on Democrats’ Massive Tax and Spend Bill:
Policies contained in this $700 billion bill include:
- A 15% book income minimum tax, an estimated $313 billion tax increase on American businesses that will be passed down to consumers;
- Nearly $370 billion in “energy security and climate change” tax credits that includes subsidies for purchasing $80,000 electric vehicles and green energy home modifications;
- Government price controls for prescription drugs disguised as Department of Health and Human Services “negotiation”; and
- $80 billion for hiring new IRS agents and funding audits of middle-class Americans and small businesses.