U.S. Senator Lisa Murkowski (R-AK) today commented on her opposition to the partisan budget reconciliation bill that Senate Majority Leader Chuck Schumer (D-NY) is expected to bring to the Floor for debate this week or weekend. According to preliminary estimates, the measure includes $433 billion in new spending and $739 billion in tax increases over the next decade.
“While I continue to review the changing draft text, one thing that is abundantly clear is that the Democrat reconciliation bill is too much new spending with new taxes that will unfortunately be shouldered by the American people,” Murkowski said. “At a time when we are already facing unprecedented prices for gasoline, home heating fuel and overall energy costs, this bill would make it more costly to produce domestic oil and natural gas, further harming places like Alaska. It spends too much, with early projections showing it may actually add to inflation through 2024. It grows the bureaucracy in the IRS leading to costly, burdensome audits on taxpayers. And my greatest concern is that it raises taxes by more than $700 billion, when indicators suggest the U.S. is already in a recession. Such sweeping tax hikes will hurt investment we need to grow the economy, harm manufacturers at a time when we are attempting to re-shore our supply chains, and result in higher costs for the American people. This wholly partisan measure is not the cure for the country’s economic distress.”
Related Issues: Budget, Spending, and the National Debt
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