Largest Tax Increase in More than 50 Years

How Biden’s Budget Busting Reconciliation Hurts the Economy, Families and Individuals

Largest Tax Increase in More than 50 Years

It would violate President Biden’s pledge that the massive $3.5 trillion price tag would not raise taxes for working-class Americans.

  • Democrats’ promise that “no family making under $400,000 a year will pay a penny more in taxes” is patently false.
  • The Build Back Better Act includes trillions in tax increases, and the official scorekeepers confirm that taxes would go up for middle-income Americans earning $30,000 or more per year.

The tax hikes would make America less competitive. The bill would increase the federal corporate tax rate to 26.5%, which would be even higher than the 25% corporate tax rate imposed by the Communist Party of China.

These taxes would be felt directly by all Americans as the result would be lower wages, higher prices, and lost jobs.

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