Get ready for Uncle Sam to take a bite out of your wallet with the new infrastructure bill.

Senate Minority Leader Mitch Mc Connell said that the Republicans will not get behind Biden’s new infrastructure bill because it would hike up tax rates in a time when Americans need it least.

It would raise the corporate tax rate from 21 percent to 28 percent and increase the global minimum tax rate on U.S. corporations from 13 percent to 21 percent.

On top of this, they aim to hammer corporations who have out-of-country investments; this according to the administration, would add 0.5 percent more revenue enough to pay off this 8-year spending package in about 15 years.

Can we trust what they are saying?  Nope, not one bit.  Any time government wants to hike taxes, expect things to cost more because the tax bill will always be passed down to the consumer.

And honestly, who knows better how to spend our money? Government, or us?

I’m banking on the American people.

While this seems a small matter, I believe it is one more thing we must keep our government and elected officials held accountable for.

As always, we must pray up, armor up, and war strong.

 

Teresa Blaes