GOP Rep Says Reconciliation Bill Is ‘Key’ To Stopping ‘One Of The Largest Tax Increases’ For Most Americans

Republican Texas Rep. Beth Van Duyne said Tuesday evening on Fox Business that lawmakers’ reconciliation bill will be “key” to preventing “one of the largest tax increases” Americans could face.

During President-elect Donald Trump’s campaign, the former president promised to address economic issues as Americans expressed concerns about the economy under President Joe Biden. On “Kudlow,” guest host David Asman questioned the Republican lawmaker on whether Congress would address the issue, saying that while the Federal Reserve has tried to lower interest rates, Americans are still seeking “money in their pockets.”

Van Duyne said she agreed 100%.

“We’ve been trying to push to have one reconciliation bill to make sure that those tax cuts get extended and that tax bill gets passed,” Van Duyne said. “You know, when I hear some of my Democrat colleagues talk about, ‘Oh, it’s just the rich, it’s just the billionaires.’”

“I need them to understand it’s 90% of American taxpayers. If these cuts are not extended, will feel one of the largest tax increases in American history, 90% of American taxpayers. So I don’t know how many people they think are billionaires, how many people they think are the rich, how they define it,” Van Duyne added. “But they need to understand it’s a very large portion of their constituents that are feeling it.”

The Fed announced on Dec. 18 that it was lowering its rates to a target range of 4.25% to 4.50%, following a 0.3% month-over-month increase and a year-over-year rise of 2.7% in the consumer price index (CPI), a measure of the price of everyday goods.