Congressman Schweikert issued the following statement after voting against H.R. 5376:
"The reality is this bill does nothing to reduce inflation. What this legislation really does is subsidize big Pharma and energy companies hand-picked by Democrats while taxing and destroying small businesses, some of which may offer vital competition in those same sectors.
"We should be supporting new businesses entering the market with disruptive and more efficient technology that would alleviate supply chains while competing with large pharmaceutical and climate-driven companies to lower costs. Instead, Democrats put a bill on the Floor today that stifles competition and hinders innovation by raising taxes on lower-and-middle-income families and small businesses to subsidize their unions and donors in the industry."