Republicans slam Dems' plans to increase taxes again in 2023: 'The left's Holy Grail is tax hikes'

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Several House Republicans condemned Democrats' apparent plans to increase taxes in 2023 if they were to keep majority control in Congress.

Rep. Richard Neal, D-Mass., the chairman of the powerful House Ways and Means Committee, said Democrats would seek to boost both corporate and individual tax rates if they kept control of the House following the upcoming midterm elections in November, according to Bloomberg reporter Erik Wasson. Neal added that Democrats could seek to revive previously proposed overhauls of the tax code to raise federal revenue and pay for major spending programs.

"For anybody that was even debating whether or not we should remove Speaker Nancy Pelosi from the speakership, now, they have further evidence." Rep. Bryan Steil, R-Wis., the top GOP member of the Select Committee on the Economy, told FOX Business in an interview. "The last thing we should be doing in a recession is raising taxes."

"The Democrats are showing their cards that their plan is to continue to raise taxes and recklessly spend, which is a recipe for the disaster that we're already experiencing with runaway inflation," Steil continued.

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House Ways and Means Committee Chairman Richard Neal, D-Mass., speaks to reporters on March 9, 2021. (Reuters/Joshua Roberts) (Reuters Photos)

Steil was one of many Republican lawmakers who quickly responded in force to Neal's comments.

"This has been their problem from day one," Rep. Tom Emmer, R-Minn., the chairman of the National Republican Congressional Committee (NRCC), told FOX Business. "They don't have an answer for the double-digit inflation that they caused. They don't have an answer for gas prices except destroying our economy so people buy less.

"Remember, every consumer ends up paying those taxes," he continued. "They can tax corporations and make these statements all they want, but it all gets passed through to the consumer on the street."

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In response to the report Friday, the NRCC tweeted that Americans should "Vote. Them. Out."

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House expected to pass a $739 billion spending bill to curb inflation

Fox News congressional correspondent Chad Pergram reports as the House of Representatives is set to pass Democrat’s Inflation Reduction Act.

"Congressional Democrats are one trick ponies. Their solution to every problem is to tax more and spend more of other people’s money," Rep. Andy Barr, R-Ky., a senior member of the House Financial Services Committee, told FOX Business. "Today’s historic tax increase during a recession is just another example. Republicans will put an end to this failed economic agenda in the next Congress."

Rep. Kevin Hern, R-Okla., a member of the House Ways and Means Committee and the chairman of the Republican Study Committee's budget and spending task force, said additional taxes on business will only lead to more companies moving operations overseas.

"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. 

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Hern added that Democrats want to tax Americans more and make Washington an "even bigger place than it is right now."

House Minority Leader Rep. Kevin McCarthy, R-Calif., speaks during a news conference in 2020. (Alex Wong/Getty Images / Getty Images)

"The left's Holy Grail is tax hikes and more government control of our lives," Rep. David Schweikert, R-Ariz., another House Ways and Means Committee member, told FOX Business. "At least the left is being honest about the dystopian future they intend to bring us."

Schweikert said people who believe Democrats aren't in favor of new tax hikes "haven't been listening."

"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."

"Democrats aren’t hiding they want to keep raising taxes," Rep. Mike Waltz, R-Fla., added. "Remember when you go to vote."

However, Rep. Bill Pascrell, D-N.J., responded in support of Neal's comments. He said Democrats' top priority is to ensure the wealthy pay "their fair share," while the GOP is committed to allowing billionaires to cheat on their taxes.

Meanwhile, the House is set to vote on the Inflation Reduction Act, a spending package that includes a series of tax hikes. 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.

While the legislation's tax hikes target high-income Americans, it would indirectly lead to some tax increases for middle- and low-income individuals as well, according to a nonpartisan Joint Committee on Taxation analysis. Middle-class Americans would also be subject to the majority of new Internal Revenue Service audits under the bill.

"They will need to increase the audit rates on middle-class and low-income folks to get the sort of revenues they're claiming from this," William McBride, the vice president of federal tax and economic policy at the Tax Foundation, told FOX Business last week.

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In addition, multiple independent studies concluded the bill would have a minimal impact on inflation.

Neal's office didn't respond to a request for comment.

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