Democrats’ $3.5 Trillion Reckless Tax-And-Spend Spree

Democrats Want To Spend $3.5 Trillion, Sticking Americans With Inflation, Massive Government Spending, And Inevitable Tax Hikes

DEMOCRATS ARE RECKLESSLY PUSHING $3.5 TRILLION IN NEW SPENDING

• Democrats are pushing a $3.5 trillion reconciliation bill chock-full of reckless spending, tax hikes, and far-left policies.
  • This is the equivalent of $27,000 in new spendingfor every household in America.
• The true cost of Democrats’ reckless tax-and-spend spree is even higher than they admit.
  • The Committee for a Responsible Federal Budget (CRFB) estimates the plan would actually cost up to a staggering $5.5 trillion, saying that Democrats are using a budget gimmick to mask the true price of their spending.
  • CRFB’s Marc Goldwein: “Lawmakers plan to hide the [package’s] true cost by having some programs and tax breaks expire early.”
• Polling shows that Americans are very concerned about the higher taxes and inflation that trillions in new spending would lead to.
  • A No Labels/HarrisX poll found that 74 percent of the public is worried about the runaway inflation this bill will cause, with another 78 percent worried about higher taxes. 

EXPERTS ARE WARNING OF DIRE CONSEQUENCES OF SPENDING $3.5 TRILLION

• Manhattan Institute Senior Fellow Brian Riedl: Democrats’ spending binge would be “the largest permanent expansion of government in at least a half of a century.”
• American Enterprise Institute Senior Fellow Michael Strain: Democrats’ spending spree “would increase inflationary pressures, threatening the longevity of the current economic expansion.”
• Investor Stanely Druckenmiller warns excessive spending will “cause a financial crisis, is gonna cause inflation, and nothing is gonna hurt the poor more than that.”
• Former Moody’s Analytics Senior Director Marc Joffe: “If the reconciliation package does increase the deficit, the consequences could be quite negative.”

DEMOCRATS’ SPENDING SPREE IS FULL OF FAR-LEFT POLICIES

• In the middle of a border crisis, Democrats are even trying to include amnesty and a pathway to citizenship for illegal immigrants in their reckless spending spree.
  • Biden says he supports including “immigration” in the $3.5 trillion budget and told Democrats that he will push for amnesty for millions of illegal immigrants in the bill.
• Democrats’ plan “would create the largest expansion of welfare benefits since the 1960s.”
  • Their budget would extend Obamacare subsidies – which mainly benefit the rich – that were included in Biden’s $1.9 trillion stimulus.
  • Democrats’ plan calls for forcing Obamacare’s Medicaid expansion on 12 states that chose not to adopt it; Democrats’ current plan to do so would allow taxpayer funding of abortions.
• Democrats are pushing far-left, Green New Deal policies in this budget.
  • The plan includes a “clean electricity standard,” which is essentially a green energy quota, forcing utilities to reduce fossil fuel usage or face fines.
  • Democrats would create a new “Civilian Climate Corps,” a demand pushed by far-left environmentalists like the Sunrise Movement, which would pay young Americans to advocate for “environmental justice.”
• Democrats’ plan includes the PRO Act, which gives power to union bosses, hurts workers, and would cost businesses $47 billion every year.
• Democrats would raise the tax rate for U.S. businesses, likely adopting Biden’s plan to hike the business tax rate to 28 percent – higher than communist China.

FAR-LEFT RADICALS ARE TOUTING THIS $3.5 TRILLION AS MAJOR “VICTORY” 

• Alexandria Ocasio-Cortez (D-NY) called this reckless spending a “progressive victory.” 
• Socialist Bernie Sanders referred to this package as “transformative.”
• Elizabeth Warren (D-MA) wants to spend even more, saying she “will always be pushing to make the number bigger but right now, my job is to say, ‘that’s a lot of money.’”