Finance Committee Republicans Request Information on the Adverse Effects of High, Persistent Inflation on the Federal Budget
Washington, D.C.–In light of high and accelerating inflation, Senate Finance Committee Republicans, led by Ranking Member Mike Crapo (R-Idaho), are asking the Congressional Budget Office (CBO) for detailed information on the harmful effects inflation has on the federal budget. As inflation continues to hammer pocketbooks of Americans, it also eats up fiscal space by increasing […]
Crapo Statement at Hearing on Youth Mental Health
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, “Protecting Youth Mental Health: Part II—Identifying and Addressing Barriers to Care.” The text of Ranking Member Crapo’s remarks, as prepared, is below. “Thank you, Mr. Chairman, and thank you to our witnesses […]
Crapo: Inflation Continues to Hammer Americans
Washington, D.C.–U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) released the following statement after the January Producer Price Index (PPI) release showed persistently high producer prices: “Continued price pressures are hammering small businesses and consumers, who are already suffering from persistent inflation. While we need to fund the federal government, the Administration cannot […]
Republicans Urge IRS to Provide Maximum Taxpayer Support During Difficult Filing Season
Washington, D.C.–Senate Republicans, led by Finance Committee Ranking Member Mike Crapo (R-Idaho), are urging the Internal Revenue Service (IRS) to do everything it can to support taxpayers during the current tax filing season. In a letter to Treasury Secretary Janet Yellen and IRS Commissioner Chuck Rettig, the senators press the agency to provide taxpayers with […]
Crapo Statement on High, Persistent Inflation
Washington, D.C.–U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) released the following statement after the January Consumer Price Index (CPI) release showed inflation surged 7.5 percent year over year. “Consumer price inflation continues to accelerate, and each month hits highs not seen in 40 years. Americans are paying more for groceries, gas, and other household […]
Crapo Statement at 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 a hearing to consider the following nominations to the Department of Health and Human Services (HHS): Robert Gordon, Assistant Secretary for Financial Resources; January Contreras, Assistant Secretary for Children and Families; and Rebecca Jones Gaston, Commissioner […]
Crapo Statement at Hearing on Youth Mental Health
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, “Protecting Youth Mental Health: Part I – An Advisory and Call to Action.” The text of Ranking Member Crapo’s remarks, as prepared, is below. “Thank you, Mr. Chairman, and thank you, Dr. […]
Republicans Raise Serious Concerns with Intrusive IRS Identity Verification Measures
Washington, D.C.–Senate Republicans, led by Ranking Member Mike Crapo (R-Idaho), are raising serious questions and concerns with the Internal Revenue Service’s (IRS) announcement of a major expansion of its collaboration with ID.me that will require taxpayers to have an ID.me account to access key IRS online resources. In order to register with ID.me, taxpayers will […]
Finance Committee Republicans: Congress Should Close the Book on the Failed Book Minimum Tax
Washington, D.C.–Republican members of the Senate Finance Committee, led by Ranking Member Mike Crapo (R-Idaho), urged Senate colleagues to reconsider efforts to implement a tax on financial statement income of U.S. companies, or a “book minimum tax,” detailing the problematic and unaddressed issues that have resulted from such proposals in the past. As the senators […]
Crapo Statement on Largest Inflation Spike in Decades
Washington, D.C.–U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) released the following statement after data for the personal consumption expenditures (PCE) price index, a measure of consumer prices, jumped to 5.8 percent today. “Prices for goods and services are rising at the fastest pace in decades. According to data released today, inflation in […]