Crapo Statement at Hearing on Housing Affordability
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the U.S. Senate Finance Committee, delivered the following remarks at hearing entitled, “The Role of Tax Incentives in Affordable Housing.” The text of Ranking Member Crapo’s remarks, as prepared, is below. “Thank you, Mr. Chairman. “Last week we learned that consumer price inflation spiked to […]
Finance Republicans: Small Business Surcharge would Crush Main Street Businesses
Washington, D.C.–Republican members of the U.S. Senate Finance Committee, led by Ranking Member Mike Crapo (R-Idaho), sent a letter to Senate colleagues highlighting concerns with a proposal to impose a tax on small- and medium-sized businesses—businesses already reeling from the pandemic, massive inflation and worker shortages. A proposal to expand the so-called Net Investment […]
Finance Committee Republicans on Democrats’ Plans to Hike Taxes, Kill Jobs and Fuel Inflation
Washington, D.C.–U.S. Senate Finance Committee Republicans, led by Ranking Member Mike Crapo (R-Idaho), held a news conference to emphasize why combining massive tax hikes with sky-high inflation is a terrible combination for American workers and the economy. To watch the news conference in its entirety, click here. Highlights: Senator Mike Crapo (R-Idaho): “Tax increases would […]
Republicans Introduce Legislation to Recover Unchecked Unemployment Fraud
Washington, D.C.–With unemployment fraud leaving taxpayers on the hook for roughly $163 billion, and only slightly more than $4 billion recovered, Senate Republicans, led by Finance Committee Ranking Member Mike Crapo (R-Idaho) and Senate Homeland Security and Governmental Affairs Committee Ranking Member Rob Portman (R-Ohio) are introducing legislation to recover funds from unchecked unemployment fraud […]
Crapo: Seven Consecutive Months of Double Digit Wholesale Price Inflation
Washington, D.C–U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) issued the following statement after inflation in the Producer Price Index (PPI) increased to 11.3 percent–seven consecutive months of double-digit rates–well above the 1.8 percent average during the four years prior to Biden taking office. “Data on producer prices released this morning show another […]
Crapo: Raising Taxes and Killing Jobs No Cure for Inflation
Washington, D.C.–Amid consumer price inflation surging to 9.1 percent in June and an economy facing rising odds of a recession and stagflation, U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the Senate Finance Committee, led a news conference with Finance Committee Republicans to emphasize why this is the worst time to consider raising taxes on […]
Crapo: Historically High Inflation Fueled by Reckless Spending
Washington, D.C.–U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) issued the below statement following the release of the consumer price index (CPI) for June, which shot up to 9.1 percent year-over-year, the highest since 1981. “Today’s consumer price inflation reading of 9.1 percent is a painful reminder that Americans’ paychecks continue to be […]
Crapo Statement at Treasury and HHS Nominations Hearing
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the U.S. Senate Finance Committee, delivered the following remarks at hearing to consider the nominations of Jay Shambaugh for Treasury Under Secretary for International Affairs and Rebecca Haffajee for Health and Human Services Assistant Secretary for Planning and Evaluation. The text of Ranking Member Crapo’s […]
Senate GOP Leaders Press CBO, JCT for True Cost of Democrats’ Obamacare Spending Spree Amid Record-High Inflation
Washington, D.C.–Senate Republican leaders have sent a letter to the Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT) requesting more information on the potential budgetary and economic impacts of making the temporary expansion of premium tax credits (PTC), justified as pandemic relief by Democrats, permanent. The letter was sent by U.S. […]
Crapo, Brady, Risch on Treasury’s Desperate Attempt to Force Global Tax Agreement
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the Senate Finance Committee, Congressman Kevin Brady (R-Texas), U.S. House Ways and Means Republican Leader, and U.S. Senator Jim Risch (R-Idaho), Ranking Member of the Senate Foreign Relations Committee, issued the following statement regarding the U.S. Treasury Department’s announcement that it intends to withdraw from the […]