Crapo Statement on Record Jump in Wholesale Prices
Washington, D.C.–U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) released the following statement on the November Producer Price Index (PPI) hitting record levels, rising to 9.6 percent over the 12 months ended in November. “Consumer prices are soaring and accelerating, and today’s producer price inflation numbers show there’s no quick relief on the horizon for […]
Nonpartisan Scorekeepers Confirm True Cost of Tax-and-Spend Bill
Washington, D.C.–The Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT) have confirmed what other nonpartisan analysts have said: the policies in the Democrats’ tax-and-spend legislation will negatively impact the economy, with economic effects severely worsening when intentions of permanence are taken into account. “For months, Democrats have been saying they intend for […]
Crapo Statement on Inflation Reaching Nearly 40-Year High
Washington, D.C.—U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) released the following statement after the November Consumer Price Index (CPI) release showed inflation reaching a 39-year high. “Inflation is ravaging the pocketbooks of Americans, yet the Administration and Congressional Democrats continue to push a massive new spending package that’s front-loaded with short-term stimulus, which […]
Senate Republicans: Reckless Tax-and-Spend Bill Will Make Bad Situation Worse
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), the top Republican of the Senate Finance Committee, led a press conference with other Republican Senators on the budget gimmicks and job-killing tax hikes in the Democrats’ reckless tax-and-spend legislation, which do nothing to address supply chain issues, nor inflation or rising consumer prices. The senators noted that Democrats’ […]
Crapo Sheds Light on Reckless Spending and Job-Killing Tax Hikes
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the Senate Finance Committee, today led a press conference with Republican members on the budgetary gimmicks and job-killing tax hikes in the Democrats’ reckless tax-and-spend legislation, which do nothing to address supply chain issues, nor inflation and rising consumer prices. “[These proposals] do nothing to […]
Finance Committee Republicans Continue to Press IRS on ProPublica Leak
Washington, D.C.–Nearly six months after ProPublica began disclosing confidential, private and legally-protected taxpayer information, the Internal Revenue Service (IRS) and the Biden Administration continue to show little regard about the haphazard handling of private taxpayer data. ProPublica unabatedly continues to publish articles naming individual taxpayers while the IRS, the Department of the Treasury, the Federal […]
Senate Republicans Slam SALT Cap Proposal
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), the top Republican of the Senate Finance Committee, led a press conference with other Republican Senators to highlight the hypocrisy of Democrats’ plans to increase the state and local tax (SALT) deduction cap, a gigantic deduction for the rich living in high-tax states. You can watch the press […]
Crapo: Raising the SALT Cap is a Windfall for the Rich
Washington, D.C.–Efforts to reimagine America as a welfare state, and to do so unilaterally through the budget reconciliation process, have revolved around an ever-changing menu of tax hikes guided not by sound tax policy, but by the revenue needed to pay for social spending. These reckless tax hike proposals are being sold under the guise […]
LETTER to Ambassador Tai: How the U.S. Can Get WTO Reform Right at MC12
Washington, D.C.–With global trade at a critical crossroads, Senate Committee on Finance Republican Leader Senator Mike Crapo (R-Idaho) and House Committee on Ways and Means Republican Leader Representative Kevin Brady (R-Texas) wrote to U.S. Trade Representative Katherine Tai calling for the United States to demonstrate leadership by pushing for strong outcomes in reforming the World […]
Crapo: Americans Must Continue to Reject IRS Bank Reporting Scheme
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the U.S. Senate Finance Committee, issued the following statement on continued efforts to include a reporting scheme in the Democrats’ reckless tax-and-spend legislation under which financial intermediaries report to the Internal Revenue Service (IRS) on customer deposits and withdrawals. “Americans are justifiably concerned about providing sensitive […]