President Joe Biden spoke again on Thursday in opposition to the radical agenda promoted by some House Republicans, promising he would block key initiatives that could destabilize everyday Americans’ finances.
An early bill passed by the new Republican majority in the chamber, which has no chance of passing the Senate, was already the subject of an official statement from the White House outlining Biden’s opposition. The proposal would undo tens of billions of dollars in new funding for the IRS that would help support agency initiatives like holding wealthy people evading their taxes accountable and providing better assistance to Americans. Biden also discussed current and potential proposals that would evidently replace national income taxes with what amount to federal sales taxes — which could eat up a larger portion of the personal income brought in by those making less if the dollar amounts of the taxes aren’t adjusted for different income brackets. That bill also has no reasonable chance of passing the Senate, where Democrats lead.
“But like many Americans, I was disappointed that the very first bill the Republicans in the House of Representatives passed would help wealthy people and big corporations cheat on their taxes at the expense of ordinary, middle-class taxpayers,” Biden told reporters, referring to the kind of situation that erasing the additional IRS funding could facilitate. “And it would add $114 billion to the deficit. Their very first bill. House Republicans campaigned on inflation. They didn’t say, if elected, their plan was to make inflation worse… And on top of that, House Republicans are preparing to vote on a national sales tax bill. National sales tax, that’s a great idea. It would raise taxes on the middle class by taxing thousands of everyday items from groceries to gas, while cutting taxes for the wealthiest Americans.”
Biden subsequently discussed his intention to veto any of these bills he might face. Although Democrats are still leading the Senate, there could — in theory — be a second Biden term with Republicans holding the House and flipping the upper legislative chamber. At this early point, specific forecasting is obviously difficult.
“Come on,” Biden told reporters. “Is this how House Republicans are starting the new term: cutting taxes for billionaires, raising taxes for working families, and making inflation worse? Well, let me be clear: If any of those bills make it to my desk, I will veto them. I will flat veto them. I’m ready to work with Republicans, but not this kind of stuff. If they try to cut Social Security or Medicare, which Americans have been paying into with every paycheck since they have ever have had — got their first paycheck, I’ll use my veto pen to stop that as well.”
