Memorandum For: Rep. (TX-32), Rep. (TX-7), Rep. (MI-11), Rep. (CA-10), Rep, Abby Finkenauer (IA-1), Rep. (IA-3), Rep, (NV-3), Rep, (MN-2), Rep, (NJ-3), Rep, (VA-7). Rep. Antonio Delgado (NY-19), Rep, (VA-2), Rep. (MN-3), Rep. (AZ-9), Rep. (MD-6).

From: Office of the Republican Whip

Subject Stopping the Business Crushing Tax Increases ______Knowing of your interest in supporting America’s businesses – we are sure you are aware the businesses community strongly opposes the Biden multi-trillion dollar tax increase. We want to provide some additional information about the real economic challenges facing the country.

While you’re back home for the July District Work Period, we encourage you to check in with your local businesses. If your district looks like the rest of country, you will find employers that can’t find workers and workers that are worried their wages are worth less as inflation continues to creep up.

• There’s a record high 48 percent of small business owners with job openings but no workers to fill them. Surely, the federal policy of paying people more money to stay home than to go to work is a huge contributor to this problem. Small businesses shouldn’t have to compete with the government’s super-charged unemployment. • 40 percent of small business owners (seasonally adjusted) are raising average selling prices, the highest reading since April 1981, according to the NFIB’s May survey of small businesses. • Signs of inflation are everywhere: o The Consumer Price Index is up 5 percent from last year, the largest 12- month increase since August 2008. o The Producer Price Index for final demand rose 6.6 percent on an unadjusted basis, from last year, the largest increase since 12-month data were first calculated in November 2010. o Among many goods and services, gas prices are up 56 percent, used cars are up 30 percent, and bacon is up 13 percent. • President Biden’s plan to raise taxes to historic highs is projected to shrink the size of the economy and cause millions of job losses.

If America can’t get back to work, our economic recovery will stagnant and small businesses will close. The last thing our economy needs right now is President Biden’s plan to spend another $4 trillion and impose huge, job-killing tax increases on families, workers, and businesses. Please join us in the fight to protect American jobs and families from these damaging policies.