Commentary: President Biden’s Tax Hike Hits Keep on Coming

Joe Biden

Just over three months into his presidency, Joe Biden has been nothing if not active. Fresh off proposing two bills that could end up costing taxpayers $5 trillion over the next decade, the President is now proposing yet another $1.5 trillion spending package. This plan, intended to fund expanded childcare and education initiatives, would include huge tax hikes that would act as yet another sucker punch to a still-rebounding economy.

About the only tax increases the President hasn’t supported thus far arewealth taxes and financial transaction taxes. But just because the tax hikes in this package are less exotic doesn’t mean they wouldn’t prove to be harmful.

In keeping with Biden’s ongoing efforts to undo the 2017 tax reform law, the first tax increase proposed is the restoration of the top tax bracket to 39.6 percent, the level it was at before the Tax Cuts and Jobs Act (TCJA) lowered the rate to 37 percent. The top individual rate isn’t the most influential piece of the tax code on economic growth — as the Tax Foundation estimated prior to the passage of the TCJA — but it’s also far from the only tax hike that Biden is proposing.

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Commentary: The Now-Complete Democrat Trifecta Threatens Tax Hikes

Capitol building

Understandably lost in the wake of Wednesday’s shocking events was the fact that, with two election wins in Georgia, Democrats took control of the Senate to go with control over the House and presidency. Though tax policy may have taken a backseat in these Georgia elections, the results raised the chances of significant tax hikes, and the undoing of progress made in the 2017 Tax Cuts and Jobs Act (TCJA), substantially.

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Michigan House GOP Pushes Own Infrastructure Plan, Rejecting Whitmer’s 45 Cent Gas Tax Hike

by Tyler Arnold   Michigan House Republicans unveiled an infrastructure funding plan that would divert all revenue generated from sales taxes paid on gasoline purchases to fund road improvements, rejecting Gov. Gretchen Whitmer’s plan to increase road funding through a 45-cent gas tax hike. The Republican plan would provide about $800…

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Ohio Senate Breaks Even Further from Governor DeWine, Lowering Gas Tax to Six Cents

The Republican-held Ohio Senate joined Republicans in the House of Representatives in opposing Gov. Mike DeWine on his proposed gas-tax hike. House Bill 62 (HB 62), the 2020-21 Ohio transportation budget, first proposed by DeWine on Feb. 12, originally called for an 18 cent increase to the current gas tax. This was…

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Americans for Tax Reform Urges Ohio to Reject ‘Straight-Up’ Gas Tax Increase

Grover Norquist, President and Founder of the nationally recognized Conservative taxpayer advocacy group Americans for Tax Reform (ATR), implored Ohioans Friday to reject the “straight up” gas tax currently being considered by the Ohio Legislature. In an open letter, Norquist warned; A gas tax hike does the greatest harm to households who…

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Federalism Committee Chair John Becker Gauges Gas Tax as Ohio Statehouse Battle Ignites

COLUMBUS, Ohio — The battle over a gas tax increase has officially kicked off in the Ohio Statehouse. Since taking office, Ohio Republican Gov. Mike DeWine has insisted that a gas tax was critically necessary to preserving and repairing the state’s decaying roads and bridges. Though many in the state on both…

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Columbus Democratic Mayor Backs Governor DeWine’s Gas Tax

COLUMBUS, Ohio– In a statement made via a Facebook Video, Columbus, Ohio’s Democratic Mayor Andrew J. Ginther announced that he is backing DeWine’s 18 cent gas tax hike. The mayor said he is backing the bill because: It will help us increase our funding for infrastructure in Columbus neighborhoods by 19 million a year.…

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