JCT Confirms Democrats’ Proposals Increase Taxes on All Americans
Washington, D.C.–A new pair of analyses by the nonpartisan Joint Committee on Taxation (JCT) shows that the Democrats’ latest tax-and-spend provisions under discussion will increase taxes on millions of Americans making less than $400,000 per year, and the average tax rate for every single income category would increase. The JCT previously confirmed that the House-passed […]
Crapo: Inflation Continues to Climb, Eating into Workers’ Paychecks
Washington, D.C.–U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) released the below statement following the release of the personal consumption expenditures (PCE) price index for May, which remained at 6.3 percent from April. “Today’s data on inflation in the personal consumption expenditures price index, the Fed’s preferred measure of consumer prices, confirms prices […]
Finance Committee Approves Crapo, Wyden Bill to Strengthen Retirement Savings
Washington, D.C.–The U.S. Senate Finance Committee, under the leadership of Ranking Member Mike Crapo (R-Idaho) and Chairman Ron Wyden (D-Oregon), passed the Enhancing Americans Retirement Now (EARN) Act, expanding opportunities for Americans to increase their retirement savings and improving workers’ long-term financial well-being. The legislation builds on the Setting Every Community Up for Retirement Enhancement […]
Crapo Statement at Retirement Legislation Markup
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the U.S. Senate Finance Committee, delivered the following remarks at an open executive session to consider The Enhancing American Retirement Now (EARN) Act. The text of Ranking Member Crapo’s remarks, as prepared, is below. “Thank you, Mr. Chairman. “Nearly one year ago, we […]
Crapo, Brady: President Biden Set America’s Interests Back at WTO — No Dispute Reform, Surrendered Crucial Medical Patents, Failed to Protect U.S. e-Commerce, Fishing Interests
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the U.S. Senate Finance Committee, and U.S. House Ways and Means Republican Leader Kevin Brady (R-Texas) issued a statement condemning the Biden Administration’s decision to capitulate to the demands of some of the United States’ most disruptive trading partners at this week’s World Trade Organization (WTO) […]
Crapo Statement at Hearing on SCOTUS Wayfair Decision
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the U.S. Senate Finance Committee, delivered the following remarks at a hearing entitled, “Examining the Impact of South Dakota v. Wayfair on Small Businesses and Remote Sales.” The text of Ranking Member Crapo’s remarks, as prepared, is below. “Thank you, Mr. Chairman. And thank you […]
Crapo: Sustained High Inflation Out of Control
Washington, D.C.– U.S. Senator for Idaho Mike Crapo, Ranking Member of the Senate Finance Committee, issued the following statement after the Producer Price Index (PPI), or wholesale price inflation, showed persistent double-digit rates at 10.8 percent. “Sustained high inflation is out of control. Wholesale prices have been rising at double digit rates for six […]
Crapo Statement on Painful, Historically High Inflation
Washington, D.C.–U.S. Senator for Idaho Mike Crapo, Ranking Member of the Senate Finance Committee, issued the following statement after the Consumer Price Index (CPI) release showed inflation surging higher than expected at 8.6 percent year over year in May. “Inflation remains painfully high, gas prices have been setting all-time highs and families are choosing to […]
Crapo Statement at Hearing on The President’s Budget
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the U.S. Senate Finance Committee, delivered the following remarks at a hearing on the President’s fiscal year 2023 budget with the U.S. Department of Treasury Secretary Janet Yellen. The text of Ranking Member Crapo’s remarks, as prepared, is below. “Secretary Yellen, welcome to today’s hearing. […]
Finance Committee Republicans Demand Oversight of State, Local Funds in American Rescue Plan
Washington, D.C.–Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) and Senate Homeland Security and Government Affairs Committee Ranking Member Rob Portman (R-Ohio) joined all Finance Committee Republicans in requesting the Government and Accountability Office (GAO) provide a detailed accounting of the $350 billion of COVID relief funds appropriated to governments of states, localities, territories and […]