{"id":1023158,"date":"2021-11-17T11:29:43","date_gmt":"2021-11-17T16:29:43","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1023158"},"modified":"2021-11-17T11:29:46","modified_gmt":"2021-11-17T16:29:46","slug":"gop-lawmakers-slam-bidens-made-in-america-tax-plan-warn-of-devastating-impacts","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gop-lawmakers-slam-bidens-made-in-america-tax-plan-warn-of-devastating-impacts\/","title":{"rendered":"GOP lawmakers slam Biden\u2019s \u2018Made in America Tax Plan,\u2019 warn of devastating impacts"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fgop-lawmakers-slam-bidens-made-in-america-tax-plan-warn-of-devastating-impacts%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1023158&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div id=\"attachment_2583782\" class=\"wp-caption alignnone\">\n<p id=\"caption-attachment-2583782\" class=\"wp-caption-text\">Rep. Kevin Brady, R-Texas, speaks during a hearing at the House Ways and Means Committee on Capitol Hill, in Washington, Friday, May 17, 2013. (AP Photo\/Charles Dharapak)<\/p>\n<\/div>\n<h5>OAN Newsroom<br \/>UPDATED 6:55 AM PT \u2013 Wednesday, November 17, 2021<\/h5>\n<p>Republican members of the House Ways and Means Committee outlined the devastating effects the Biden administration\u2019s newest tax proposal will have. Texas congressman Kevin Brady led his fellow Republicans in a meeting to discuss Joe Biden\u2019s <a href=\"https:\/\/home.treasury.gov\/system\/files\/136\/MadeInAmericaTaxPlan_Report.pdf\">Made in America Tax Plan<\/a>.<\/p>\n<p>In a White House statement, the Biden administration claimed this plan will \u201cmake sure corporations pay their fair share in taxes.\u201d However, Rep. Brady said Biden is wrong and the tax initiative will actually have devastating impacts on the American economy.<\/p>\n<blockquote>\n<p><strong>\u201cThe Biden administration now wants to pursue a so-called corporate booking provision, which is both untested and unvetted,\u201d explained the Republican lawmaker. \u201cIt is better called a Made in America Tax. It discourages U.S. investment in new technology and new equipment, slows economic growth and just makes it harder for companies to invest in the productivity of their workers.\u201d<\/strong><\/p>\n<\/blockquote>\n<p>The Biden administration claims the taxes will target wealthy corporations. However, Rep. Brady said the plan actually attacks small businesses.<\/p>\n<blockquote>\n<p><strong>\u201cThe nonpartisan joint committee on taxation says the middle class would shoulder a third of corporate taxes under the Democrats\u2019 Made in America Tax,\u201d he explained. \u201cThat hurts American manufacturing, energy, technology industries the worst.\u201d<\/strong><\/p>\n<\/blockquote>\n<p>Brady said when big corporations are targeted by increasing taxation, the workers are the ones who end up getting hurt.<\/p>\n<blockquote>\n<p><strong>\u201cLet\u2019s not forget what 20 to 30 percent of middle class working families will get in exchange for these tax hikes: a worsened labor shortage, higher prices at the grocery store and the gas pump, and smaller pay checks.\u201d<\/strong><\/p>\n<\/blockquote>\n<p>Additionally, Nebraska congressman Adrian Smith said instead of working on a bipartisan level to tackle rising inflation and the supply chain crisis, Democrats are making a social spending wish list.<\/p>\n<blockquote>\n<p><strong>\u201cWe should be working on a bipartisan to get Americans back to work and get companies investing even more in American production, domestic production,\u201d said the Republican. \u201cInstead, it\u2019s Democrats\u2019 social spending package, which is only going to make our supply chain problems and our inflation problem even worse.\u201d<\/strong><\/p>\n<\/blockquote>\n<p>Smith then explained that the Democrat tax proposal gives the Secretary of the Treasury more power and is similar to the economic model of the former Soviet Union.<\/p>\n<blockquote>\n<p><strong>\u201cThe Democrats bill would allow the Secretary of the Treasury to handpick favorite industries to be exempted from the limits,\u201d he noted. \u201cThat is called a command economy and we have seen how command economies, like the Soviet Union, regularly failed at meeting their peoples basic needs.\u201d<\/strong><\/p>\n<\/blockquote>\n<p>Smith asserted Biden\u2019s tax plan will have detrimental effects on the American economy, which is already in a weakened position.<\/p>\n<p>\n<a href=\"https:\/\/youtube.com\/watch?v=24pg9013aW8\">https:\/\/youtube.com\/watch?v=24pg9013aW8<\/a>\n<\/p>\n<h4>MORE NEWS:&nbsp;<a href=\"https:\/\/www.oann.com\/biden-xi-jinping-hold-virtual-meeting\/\">Biden, Xi Jinping Hold Virtual Meeting<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Rep. Kevin Brady, R-Texas, speaks during a hearing at the House Ways and Means Committee on Capitol Hill, in Washington, Friday, May 17, 2013. (AP Photo\/Charles Dharapak) OAN NewsroomUPDATED 6:55 &#8230;<\/p>\n","protected":false},"author":79,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1023158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1023158","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/79"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1023158"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1023158\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1023158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1023158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1023158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}