Americans for Tax Reform by Mike Palicz 08/12/2022
Below is the list of tax increases included in Democrats’ tax-and-spend spree now passed by both the Senate and House:
$6.5 Billion Natural Gas Tax Which Will Increase Household Energy Bills The bill imposes a regressive tax on American oil and gas development. The tax will drive up the cost of household energy bills. The Congressional Budget Office estimates the natural gas tax will increase taxes by $6.5 billion.
The tax hike violates President Biden’s tax pledge to any American making less than $400,000 per year. Biden administration officials have repeatedly admitted taxes that raise consumer energy prices are in violation of President Biden’s $400,000 tax pledge.
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$12 Billion Crude Oil Tax Which Will Increase Household CostsWith gas averaging more than $4.00 per gallon across the country and only weeks removed from record-high prices, Democrats have included a 16.4 cents-per-barrel tax on crude oil and imported petroleum products that will be passed on to consumers in the form of higher gas prices.
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$1.2 Billion Coal Tax Which Will Increase Household Energy BillsThe bill would more than double current excise taxes on coal production. Under the Democrat proposal, the tax rate on coal from subsurface mining would increase from $0.50 per ton to $1.10 per ton while the tax rate on coal from surface mining would increase from $0.25 per ton to $0.55 per ton.
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$225 Billion Corporate Income Tax Hike Which Will Be Passed on to HouseholdsThe cost of this tax increase will be borne by working families in the form of higher prices, fewer jobs, and lower wages.
More:
https://www.atr.org/list-of-tax-hikes-just-passed-by-democrats/