Representative Brady denounces for creating “economic and political crisis” with overspending
Rep. Kevin Brady, R-Texas, argued on Fox News’ “Sunday Mornings Futures” that Democrats were creating an “economic and political crisis” as he discussed government spending.
He argued that Democrats were trying to “rush through” trillions of dollars in “crippling tax hikes” and “welfare state expansion”, noting that they didn’t had “also failed to keep government open, nor to provide disaster relief. to Louisiana and many other states and, of course, haven’t raised the debt ceiling. “
The prominent member of the House Ways and Means Committee told host Maria Baritromo that he believed Democrats were “more interested in playing political games with the debt ceiling” than “passing it and letting it go. ‘to augment”.
The Senate is expected to vote on Monday on a bill passed by the House that will keep the government funded until early December and raise the debt ceiling by $ 28 trillion.
But the bill is almost certainly doomed in the upper house, where all but four Republican senators have pledged to vote against because of the inclusion of the debt limit. Democrats are expected to gain the support of at least 10 GOP lawmakers to overcome a filibuster.
We don’t know what comes next. Without a short-term spending bill, the government is expected to close its doors next week. At the same time, the federal government will run out of cash to pay its bills during October, unless the debt ceiling is raised or suspended, according to several warnings from Treasury Secretary Janet Yellen.
Democrats said a shutdown of their quarterback was not an option and pledged to do everything in their power to keep government open. This could force the party to decouple the debt ceiling from the short-term spending bill.
Brady argued on Sunday that Democrats “knew this two-year debt ceiling was coming [and] they’ve never passed a budget, haven’t had a single discussion with Republicans about how we approach our financial future as a country, and they have the ability to break that debt ceiling on their own. ”
“The question is, are they going to do it? I guess it’s only if they are forced to do it,” he continued.
Brady also warned on Sunday that the reconciliation bill will impose devastating tax increases on low- and middle-income Americans.
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Brady made the comments the same day House Speaker Nancy Pelosi said House Democrats would pass the bipartisan infrastructure bill this week and come to an agreement on their 3,500 reconciliation plan. billion dollars, despite the huge differences between moderates and progressives.
The Speaker of the House also said on ABC’s “This Week” that Democrats “absolutely” have to come to an agreement on the reconciliation package before the infrastructure bill can be passed. It was a nod to House progressives who say several dozen of their members will vote against the infrastructure bill without assurances on reconciliation.
Pelosi said in a letter to House Democrats on Saturday that she plans to pass the bipartisan infrastructure bill and the reconciliation bill by Thursday. This simultaneously gives him some leeway on the vote on the infrastructure bill, which was originally slated for Monday but could slip by a few days, and gives Democrats very little room for error on the bill. reconciliation.
The House Budget Committee, in a rare meeting on Saturday, approved the text of the reconciliation bill with a “no” Democrat, but with a wide gap between progressives and moderates, the bill is likely to change significantly.
Pelosi’s strategy of pushing the reconciliation bill forward so quickly appears to be part of an effort to rally progressives to the infrastructure bill, which they say they won’t vote for unless they are. be assured that the reconciliation bill will be adopted.
It’s unclear if the bet will work, but moderates have expressed confidence that she will be able to muster enough votes for the infrastructure bill to pass.
On Sunday, Brady discussed the tax increases expected in the reconciliation bill and said he had “never seen Washington spend so much to kill so many American jobs, raise prices even more and expand the economy. Welfare state, “calling it” the greatest expansion of our lives. ”
“This is an economic surrender to China, Russia and Europe, with American companies subject to some of the highest tax rates in the world, which we believe will cause and kill about 3 million jobs, “Brady continued, noting that many of those jobs will be driven overseas and” would make it easier to be a foreign business or worker than an American business or worker. “
He also warned that small businesses would face “devastating tax increases” that are struggling “to get out of this pandemic economy and get Americans back to work.”
Brady argued that “this breaks President Biden’s commitment not to raise taxes for low and middle income families.”
President Biden repeatedly pledged during the 2020 campaign not to raise taxes for Americans earning less than $ 400,000, but analysis suggests nearly 60% of taxpayers would pay more under his proposals.
Findings from the Tax Policy Center, a non-partisan Washington-based think tank, show that if most of Biden’s proposed tax increases would be paid for by those earning more than $ 800,000 a year, a small burden would also be borne. by some middle-income families.
According to the data, three-quarters of households earning between $ 75,000 and $ 100,000 per year are expected to pay an additional $ 440 per year in taxes as part of Biden’s tax hikes.
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Tyler Olson of Fox News, Chad Pergram and Megan Henney of FOX Business contributed to this report.