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Tags: chuck grassley | inflation | biden administration

Sen. Chuck Grassley to Newsmax: Can't Raise Any Taxes Amid 9.1 Percent Inflation

(Newsmax/"The Record")

By    |   Wednesday, 13 July 2022 06:47 PM EDT

Raising taxes amid 40-year record-high inflation of 9.1% is "unjustified," because inflation is already a tax increase, according to Sen. Chuck Grassley, R-Iowa, who added that "Democrats are talking out of both sides of their mouth" seeking to push the failed Build Back Better spending plan.

"It's anti-worker, and it's anti-middle class, when they talk about these tax increases," Grassley, a member of the Senate Finance Committee, told Wednesday's "The Record" with Greta Van Susteren. "We should not be taxing small business. We shouldn't even be increasing taxes at all when the economy is almost in recession."

Grassley noted inflation alone is costing his Iowa constituents up to $670 more per month on just food and energy alone.

"I'm telling you in the state of Iowa when you have a 9.1% increase in inflation that's an average cost per family – since [Joe Biden became] the president of the United States – spending $670 more per month for food and energy."

Van Susteren asked Grassley to expound on his tweet saying Biden has already broken his promise not to raise taxes on Americans making less than $400,000.

"Republicans were able to show that every cohort as the IRS divides up into various income brackets up to $400,000, every bracket below that is going to get some tax increase, so this is not something that's just going to affect middle class or people over $400,000," Grassley said. "This is going to affect middle-class Americans, sometimes with families as low as $75,000 a year income.

"So this business that they're just going to tax very high-income people there's just no way that they can do that without also increasing taxes on some people in middle class.

"And not only that, but tax increases now when you have 9.1% inflation are unjustified, and particularly when you're going to tax what they call pass-through income, which is basically income from businesses that goes into your personal income tax."

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Raising taxes amid 40-year record-high inflation of 9.1% is "unjustified," because inflation is already a tax increase, according to Sen. Chuck Grassley, R-Iowa.
chuck grassley, inflation, biden administration
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2022-47-13
Wednesday, 13 July 2022 06:47 PM
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