Bill Cassidy in 2022 LA Senate race


On Corporations: Taxes on manufacturers induces them to move to Asia

CASSIDY: 50 percent of the taxes on business are on manufacturers. I just spoke to a Louisiana manufacturer last week and he's having to increase wages to attract workers. Now we're going to increase his taxes as much as we're going to. Manufacturers can choose to set up in the United States or chose to move to Asia. I think what we're doing is inducing them to move to Asia.
Source: ABC This Week on 2022 Louisiana Senate race Jul 31, 2022

On Corporations: Taxes on manufacturers induces them to move to Asia

CASSIDY: 50 percent of the taxes on business are on manufacturers. I just spoke to a Louisiana manufacturer last week and he's having to increase wages to attract workers. Now we're going to increase his taxes as much as we're going to. Manufacturers can choose to set up in the United States or chose to move to Asia. I think what we're doing is inducing them to move to Asia.
Source: ABC This Week on 2022 Louisiana Senate race Jul 31, 2022

On Tax Reform: Inflation Reduction Act raises taxes on middle class

SEN. JOE MANCHIN (D-WV): This is an inflation reduction act, we're investing, we're not spending money, we're investing. We've taken a $3.5 trillion aspirational bill that I never could come to an agreement on any way shape or form, but I tried, couldn't get there. And we've taken $3.5 trillion of spending down to $400 billion of investing without raising any taxes whatsoever. We've closed some loopholes, didn't raise any taxes.

SEN. BILL CASSIDY (R-LA): Yeah, much of what he says is just not true. For example, they are raising taxes. According to the Joint Committee of Taxation, taxes will be raised almost $17 billion in the first year on those who are making less than $200,000, and the percent of taxes raised for individuals increases over time for the middle class and the lower income. They're raising taxes on people who make less than $10,000, according to the Joint Committee on Taxation.

Source: ABC This Week on 2022 Louisiana Senate race Jul 31, 2022

On Tax Reform: Inflation Reduction Act raises taxes on middle class

SEN. JOE MANCHIN (D-WV): This is an inflation reduction act, we're investing, we're not spending money, we're investing. We've taken a $3.5 trillion aspirational bill that I never could come to an agreement on any way shape or form, but I tried, couldn't get there. And we've taken $3.5 trillion of spending down to $400 billion of investing without raising any taxes whatsoever. We've closed some loopholes, didn't raise any taxes.

SEN. BILL CASSIDY (R-LA): Yeah, much of what he says is just not true. For example, they are raising taxes. According to the Joint Committee of Taxation, taxes will be raised almost $17 billion in the first year on those who are making less than $200,000, and the percent of taxes raised for individuals increases over time for the middle class and the lower income. They're raising taxes on people who make less than $10,000, according to the Joint Committee on Taxation.

Source: ABC This Week on 2022 Louisiana Senate race Jul 31, 2022

The above quotations are from 2022 Louisiana Senate race: debates and news coverage.
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Page last updated: Feb 14, 2023