Crapo: Congress Should Act Quickly on Bipartisan Legislation to Suspend Trade Relations with Russia
Washington, D.C.–Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) issued the following statement regarding President Biden’s request for Congress to vote to suspend permanent normal trade relations (PNTR) with Russia. “The President’s announcement today makes it clear that the Senate needs to immediately pass strong legislation that bans Russian energy imports, revokes favorable trade […]
Crapo: High Inflation Continues to Break Records
Washington, D.C–U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) released the following statement after the Consumer Price Index (CPI) release showed inflation surged 7.9 percent year over year in February. “Inflation continues to hit highs not seen in 40 years. Unfortunately, the Administration’s reckless spending and misguided energy policies have led to broad-based price […]
Crapo, Wyden Introduce Bill to Respond to Russia’s Invasion of Ukraine
Washington, D.C.–U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) and Finance Committee Chairman Ron Wyden (D-Oregon) introduced legislation (S.3786) to ban the import of energy products from Russia, and to suspend normal trade relations with both Russia and Belarus. The legislation reflects the agreement reached by the top Senate Finance Committee and House Ways […]
CBO: Inflation Jeopardizes U.S. Fiscal Position
Washington, D.C.–The Congressional Budget Office (CBO) responded to a request from Republican Members of the Senate Finance Committee for information about budgetary effects of the high and rising inflation that continues to hammer American households. According to the CBO, inflation and accompanying higher interest rates stemming from inflation further erode the fiscal position of the […]
Crapo Statement at Executive Session to Vote on HHS Nominees
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 executive session to vote on the nominations of Robert Gordon, for Assistant Secretary for Financial Resources; January Contreras, for Assistant Secretary for Children and Families; and Rebecca Jones Gaston, for Commissioner for the Administration on […]
Administration Should Let States Recover Fraudulent Payments
Washington, D.C.–While the White House estimates an alarming 19 percent of total COVID unemployment insurance payments were improperly paid–over $80 billion in taxpayer funds–new measures by the Biden Administration may worsen the problem. In a letter to the U.S. Department of Labor Secretary Martin Walsh, top Senate and House Republicans are urging the Department of Labor (DOL) to hold […]
Senate Republicans on Record-High Inflation
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), the top Republican of the Senate Finance Committee, led a news conference with Republican Senators to highlight how record-high inflation is affecting Americans, adding that additional reckless spending will only exacerbate the inflation crisis. To watch the news conference in its entirety, click here. Highlights: Senator Mike Crapo (R-Idaho): […]
Finance Committee Republicans Voice Concerns with Recent OECD Developments, Stress Need for Additional Engagement
Washington, D.C.–Senate Finance Committee Republicans, led by Ranking Member Mike Crapo (R-Idaho), wrote U.S. Department of the Treasury Secretary Janet Yellen raising questions and concerns with recent developments in global tax negotiations. The request for information follows a prior request, sent in December 2021, which has gone unanswered. Since that time, there have been a […]
Crapo Statement at Hearing on IRS Customer Service Challenges
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, “Spotlighting IRS Customer Service Challenges.” The text of Ranking Member Crapo’s remarks is below. “Thank you Mr. Chairman, and I thank all of our witnesses for joining us today. “For Ms. Collins, […]
Crapo: Self-Inflicted Inflation Crisis
Washington, D.C.–With inflation having accelerated under the Biden Administration to 40-year highs, Americans face soaring prices across the board for everyday expenses. Today, U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the Senate Finance Committee, led a news conference with Republican colleagues to highlight inflation’s harmful effects on American households and businesses, and urged colleagues […]