Republican lawmakers slammed Democrats over their reported plan Friday to increase taxes on individuals and corporations if they keep majority control of Congress.
Fox News congressional correspondent Chad Pergram reports as the House of Representatives is set to pass Democrat's Inflation Reduction Act.
"When you make it more difficult by increasing the tax rates, our businesses will go someplace where they can create a better environment for their workers," Hern told FOX Business. "They're about to raise taxes by over $300 billion, which will ultimately be paid by American consumers," Rep. Blaine Luetkemeyer, R-Mo., the ranking member of the House Small Business Committee, tweeted. "Now Democrats are proudly saying this is only the beginning."
. The bill, which passed the Senate on Sunday, includes a corporate minimum tax projected to raise federal revenue by $313 billion, boosts tax enforcement which would increase revenue by about $124 billion and imposes a stock buyback tax on corporations, raising another $74 billion.
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