Grassley Statement on Democratic Efforts to Roll Back Historic Economic Progress
WASHINGTON – Sen. Chuck Grassley of Iowa today released the following statement regarding recent Democratic efforts to raise taxes on U.S. businesses as part of a potential infrastructure bill.
“Now’s not the time to walk back the historic economic progress we’ve made in the last two years. The economy is booming, Americans are working in record numbers and wages are finally rising. Hiking taxes on U.S. businesses would hurt American competitiveness in the global economy and could lead to significant layoffs of American workers. It would be a serious mistake and incredibly shortsighted. Nothing would make U.S. adversaries like China happier than to have the economic upper hand we took back with the Tax Cuts and Jobs Act.
“Infrastructure is key to the prosperity of every state’s economy and the quality of life of every American. It’s how we move agricultural products, manufacturing goods and people. Partisanship ought to be put aside and Members of Congress need to get to work with serious, bipartisan negotiations on how to fix the nation’s roads, bridges and waterways.”
Grassley recently announced he would opt to serve as chairman of the Senate Finance Committee in the 116th Congress. The Senate Finance Committee’s jurisdiction includes tax policy and some funding mechanisms for a potential infrastructure bill.