LINCOLN, NEB. (November 18, 2021) – Nebraska Farm Bureau (NEFB) is urging Nebraska’s congressional delegation to oppose President Biden’s Build Back Better Act (BBB), also known as the reconciliation package. In a letter to Nebraska’s House of Representatives members, NEFB President Mark McHargue says the bill’s significant price tag along with the increased taxes used to pay for it outweigh any benefit that may exist in the legislation.
“This partisan package of new social spending and tax increases on both businesses and individuals falls well outside of legislation we can support. Given our continued concerns with increased inflation along with the significant amount of federal spending which has occurred over the past two years, now is not the time to spend trillions more and significantly increase taxes,” McHargue said.
With the Consumer Price Index at a 31-year high, McHargue said Farm Bureau fears the creation of new federal social spending programs will only make inflation challenges worse. At the same time, he said, the bill is paid for by “significantly increasing taxes on individuals and businesses which will limit economic growth and potentially destroy jobs at a time when our nation’s economy can least afford it.” He also raises concern over the bill’s potential methane tax on the oil and gas industry, which he says will lead to further gas/energy price increases.
“While some elements in this legislation would make significant investment in rural America and farmers and ranchers through voluntary conservation programs, the massive amount of spending and tax increases clearly outweigh any benefits we would see. It is our hope that the development of sound public policy transcends party politics and campaign promises,” McHargue said.
In the letter, McHargue asked House representatives to oppose the measure when it comes to the House floor for a vote.
Risk Dial Pushed Up By Rising Case Numbers