Family and Small Business Taxpayer Protection Act

Floor Speech

Date: Jan. 9, 2023
Location: Washington, DC

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Mr. SCHNEIDER. Mr. Speaker, I rise today to urge my colleagues to oppose this bill. It not only increases our national deficit by $114 billion, but it does so by helping the wealthiest avoid paying taxes and transfers that burden onto the backs of hardworking Americans and small businesses that follow the law and pay their taxes on time.

Here is my question: Why, on their very first day legislating with their new majority, with their very first bill, is the top Republican priority rewarding tax cheats with what is estimated to be nearly $200 billion in uncollected taxes over the next 10 years, $200 billion in taxes not paid by the wealthiest, meaning additional debt for everyone else?

The Inflation Reduction Act dedicated $46 billion to enforcement to make sure corporations and wealthy individuals pay the taxes they owe, not new taxes, not higher rates, simply ensuring everyone pays what they owe.

Mr. Speaker, I urge my colleagues on the other side of the aisle to oppose this outrageous tax scam.

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