WASHINGTON – Today on the floor, U.S. Senator John Cornyn (R-TX) discussed Senate Democrats’ plan to revive their reckless tax-and-spending legislation, including a tax break for blue-state billionaires, during a time of record-high inflation. Excerpts of Sen. Cornyn’s remarks are below, and video can be found here.

“The pain of inflation is having a dramatic impact on the American people.”

“With voter confidence at a concerning low, our Democratic colleagues have made an interesting calculation. They’re trying to resurrect their Build Back Broke agenda.”

“To have a shot at passing this proposal, our Democratic colleagues have slimmed and trimmed the bill, but it still packs a painful punch, especially when it has to do with energy prices.”

“The so-called ‘millionaire tax break’ has been scrapped and revived many times over the past few years.”

“It allows millionaires and billionaires in blue states to pay less federal taxes. A tax cut for millionaires and billionaires. That’s the proposal.”

“Under this proposal, two-thirds of those making more than a million dollars would receive a tax cut next year.” 

“Working families in Texas should not be forced to subsidize the tax bill for Manhattan millionaires.”

 “It isn’t time to hand out tax breaks to the well-off or push our country toward unrealistic energy goals at a time of more demand and not enough supply.”