The Economy

Floor Speech

BREAK IN TRANSCRIPT

Mr. MORAN. Mr. President, I spent those several weeks that we were away from Washington, DC, around Labor Day in Kansas, and, unfortunately, it is clearly evident that inflation has returned. Gas prices are up, prices at the grocery store are up, and further price hikes are on the horizon.

Unfortunately, price increases at the grocery store and at the gas pump and, really, everyplace else put the greatest burden on low- and middle-income families who are already feeling the strains caused by COVID-19 in their pocketbook.

It is apparent, I think, that our spending here in the Nation's Capital over a long period of time is part of the cause for that inflation and, in fact, a significant part of the cause for that inflation. But it doesn't seem to me that my Democratic colleagues are aware of the consequences of pouring a massive amount of more money, more government spending on already this inflationary circumstance that our citizens are now encountering.

The Democratic tax-and-spend spree will exacerbate our inflationary circumstances, meaning that the prices will continue to rise as we borrow more money to pay for these things. It means that interest rates will rise and, at some point in time, those who lend us money will no longer be willing to do so.

While I am sure that many of my Democratic colleagues would tell me the good things that would happen from the spending that is included in this bill, we cannot discount the people who they indicate they are trying to help would be the ones who suffer the greatest burden from increasing costs of everything that they buy.

Given the historic levels of spending that has occurred over the last year and a half, now is not the time to spend even greater amounts of taxpayer dollars.

My view is that we were too slow in turning the spigot in regard to spending that preceded the election of President Biden and a Democratic majority in the U.S. Senate and House. And that, then, resulted in-- even though we had already spent so much money--an additional nearly $2 trillion being spent back in January, and now a $3.5 trillion, which I think ultimately ends up costing a lot more than $3.5 trillion.

In order for the $3.5 trillion package to be paid for--if it ultimately is paid for--the Democratic majority is pursuing tax hikes that will have significant consequence on small businesses and farm families, both of which are so essential to the economic well-being of Kansas and many other States across the country, especially in middle America.

Tax increases on working Americans should be, if at all, a last resort, not a funding opportunity for sweeping--sweeping--massive government expansion. This government expansion includes funding of a radical climate agenda, like the Green New Deal, installing new entitlement programs, and increasing government intrusion into the lives of Americans to levels we have never seen before.

While businesses are struggling to recoup lost revenue from the COVID-19 pandemic--the consequences of that pandemic--the Democrats' plan would slap more taxes on businesses and drive up the costs for everyone.

We should not jeopardize our Nation's economic well-being so that Democrats can make good on their campaign promises. Voters certainly did not have that in mind when they elected such a slim majority here in the Senate: 50 Democrats, 50 Republicans. That wasn't a mandate for the kind of spending and taxing that is now being considered here on the Senate floor.

This proposed massive influx of government spending is irresponsible. Americans generally know how to live within their means, and it is time that government show some fiscal restraint as well.

For a long time, as I did the townhall meetings across Kansas, it was often the topic of conversation. One of the first things Kansans would raise with me is all this spending--all this deficit spending. And for a while that conversation kind of went away. Today, it is back. It is the topic of conversation at every townhall meeting I had for those several weeks in Kansas. It is what I heard at Rotary and Kiwanis and Lions Clubs. Americans, Kansans in particular, are asking for us to show some responsibility here, and this legislation now pending shows no responsibility.

To make matters worse, as the Democrats have spent valuable time testing the limits of their power to pursue this tax-and-spend spree, they have shirked their basic duties of governing.

The debt limit and government funding, the appropriations process, are clearly the province of the party in power. I am anxiously awaiting for our Appropriations Committee to be able to do its work. The appropriations work is to be completed by September 30, which, once again, will not be the case. We await an agreement on topline spending numbers and a balance of prioritization between domestic and defense spending. While the air--the oxygen--is being sucked out of the Senate for purposes of a reconciliation bill and a $3.5 trillion-plus spending bill, we need to be focused on the basics of making sure that government doesn't shut down and that we do our work in appropriating the necessary amounts for government to function.

We have known that the suspension of the debt limit would expire this summer--that has never been in question--but Democrats, with control of the White House and both bodies of Congress, have neglected to address either the debt limit or the regular appropriations process, the funding. They are now combining the issue of debt limit with the annual funding for government operations. This is what we call a CR, a continuing resolution, in which we fund the government at its current level into the future because we haven't gotten our work done. Now that CR and the debt limit increase are tied together. This is another example of not owning their governing obligations, not acting as honest brokers, and not, certainly, seeking bipartisanship. They only seek bipartisanship when it suits their political interests.

What you won't hear from the majority leader and my Democratic colleagues is that there is a clean, short-term continuing resolution that has been proposed by Vice Chairman Shelby of the Appropriations Committee and the minority leader, Leader McConnell. In addition to avoiding an unnecessary lapse in government funding, the Shelby- McConnell CR includes funding for our ally Israel, relief for hurricane-stricken States, and support for Afghan refugees. This is an act of good faith, and it deserves bipartisan support.

Mr. VAN HOLLEN.

BREAK IN TRANSCRIPT

Source