Washington, D.C.–U.S. Senate Finance Committee Ranking
Member Mike Crapo (R-Idaho) issued the below statement following President
Biden’s address to a joint session of Congress:
“President Biden outlined an agenda that
is regrettably out of sync with what Idaho’s economy and Americans currently
need. There is no doubt that we still
face challenges coming out of the pandemic, but increasing the tax burden on
workers, job creators and retirees in the early stages of our recovery is the
wrong approach.
“Before the pandemic, a combination of
reduced regulatory burden and pro-growth policies, including the Tax Cuts and
Jobs Act (TCJA), helped to create one of the strongest economies in
decades. Median household income was at
an all-time high and the unemployment rate reached 50-year lows. American businesses were competing in the
global marketplace, creating more jobs, increasing wages, and reporting record
investment in research and development.
Polling showed Americans’ general satisfaction was at the highest level
in 15 years. We should be building on
the successful, proven policies that got us to that point, not reversing them.
“Congress has already approved over $6
trillion in pandemic relief, yet the Administration continues to propose
massive new spending programs totaling over $4 trillion, this time funded by
job-killing tax hikes. In order to
return our economy to the strength and broad-based growth enjoyed prior to the
pandemic, we must focus on ideas that can garner true bipartisan support, and
remove partisan wish list items and proposals to increase taxes on American
workers and businesses. As I have said
before, I am willing to work on constructive proposals that will help us fully
reopen the economy and get people back to work, but raising taxes to fund an
expansion of government is counterproductive.”
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