MO Chamber Opposes Biden Infrastructure Plan

The Missouri Chamber is speaking out against a multi-trillion dollar reconciliation bill that was recently passed by the U.S. House of Representatives.

The so-called ‘Build Back Better’ reconciliation bill that is currently under consideration would add to rather than reduce the challenges confronting America’s employers

In a letter to legislators on Capitol Hill, the Missouri Chamber and a coalition of business groups warned that this expensive bill would raise inflationary pressures, saddle job creators with higher taxes and stop our economic growth in its tracks.

“As we recover from the economic shock of the COVID pandemic, businesses across the nation face significant headwinds, including a workforce shortage crisis, massive supply chain disruptions, and the highest inflation in more than a generation,” the letter reads. “We need Congress focused on helping address these problems. Unfortunately, the so-called ‘Build Back Better’ reconciliation bill that is currently under consideration would add to rather than reduce the challenges confronting America’s employers.”

The Chamber’s letter cites several ways that the massive price tag of Biden’s “Build Back Better” plan will be a detriment to the American people. The letter mentions ideas like proposed tax increases, including a new corporate minimum tax on book income, a new tax on stock buybacks, pharmaceutical price controls, and anti-energy ideas will harm the recovery and hamstring America. These ideas will also inflate the cost of the bill significantly higher than the nearly $2 trillion price tag currently attached to it.

KPGZ News - Brian Watts contributed to this story