Foxx Report August 12, 2022

Congresswoman Virginia Foxx

Here’s the truth: Washington Democrats cannot spend and tax their way out of a recession that their policies have created – it just doesn’t work like that. Yet, the House has reconvened today to take up the massive reconciliation bill, the so-called “Inflation Reduction Act”, that I wrote about in my newsletter to you last Friday. It should be named the “Inflation Enhancement Act” if you ask me. This is nothing more than a Hail Mary attempt to socially engineer America before the midterm elections.

You can rest assured that my position has not changed – I will still be the first in line to vote against this disastrous bill. While I did provide you with facts last week, there are a few more details and resources that I want you to know about. We are already facing an inflation catastrophe that is at its highest in over 40 years, and America has fallen into a recession – now is not the time for more wasteful spending and tax hikes.

According to estimates from the Congressional Budget Office, the so-called “Inflation Reduction Act” would only reduce inflation by .01% in 2023 – a shortcoming that even Senator Bernie Sanders (I-VT) openly criticized. As you can already tell, the name of this bill is entirely misleading. Regarding tax hikes, millions of Americans in every income tax bracket will be forced to shell out more money, even though President Biden made numerous “pledges” in the past that this would not be the case. Now, consider this: Americans making less than $400,000 will bear as much as two-thirds of the tax burden by 2031 under this bill.

Additionally, $80 billion will be spent to allow the Internal Revenue Service (IRS) to hire 87,000 new agents to target American families and businesses. This means that the IRS would be larger than the Pentagon, State Department, FBI, and Border Patrol combined.

There are three resources from Republicans on the House Budget Committee, the House Ways & Means Committee, and the Republican Study Committee, that I highly encourage you to read to learn more. Today, I’m standing up and casting a strong “NO” vote to protect hardworking taxpayers and families in the 5th District. You deserve much better than this.

The REAL Reforms Act

Recently, House Republican Conference Chair Elise Stefanik (R-NY), and Republican Study Committee Chairman Jim Banks (R-IN) joined me in introducing the Responsible Education Assistance through Loan (REAL) Reforms Act. This bill offers commonsense and fiscally responsible reforms to benefit students and borrowers in our country’s federal student loan system. Unlike Democrats’ mass student loan forgiveness scheme, these reforms provide targeted relief to borrowers who need it the most and recognize that not every career path requires a baccalaureate degree. The REAL Reforms Act is what responsibility looks like.

To learn more about the REAL Reforms Act, click here.

Behavior of The FBI and DOJ

The Department of Justice and FBI have established a damning pattern of brazen behavior that should concern every American – their actions cannot be glossed over and pushed under the rug. After they targeted concerned parents at school board meetings and are now setting their sights on a former president – presumably pursuant to statutes that are inherently political – it’s understandable that Americans are fearful that they will be next on the chopping block. Come next Congress, Republicans on the House Oversight Committee, myself included, will leave no stone unturned in search of the facts – which we will place directly in front of the American people. Under one party rule, true oversight has been forsaken in Washington, and we will see to it that it is fully restored.

Quote of The Week

“We must guard against the overreaching hand of big government trying to take away our freedom.”

-Steve Forbes