Conservatives for Property Rights (CPR), a coalition of organizations representing millions of Americans, urges your opposition to H.R. 5376, the budget reconciliation package.
CPR advocates the sanctity of private property in all its forms — physical, personal, intangible, and intellectual. Regrettably, H.R. 5376 assaults property rights in multiple ways. The taxation provisions of H.R. 5376 violate CPR’s principles as though the financial and other assets of working Americans, every American family, and business enterprises were “not part of these fundamental rights, but merely a civil convenience granted by a ‘benevolent government.’’’ The taxes in H.R. 5376 discourage and make markedly more difficult saving and investment. H.R. 5376 continues taxing earnings and assets that “have been taxed many times over.”
The cruelest “tax,” which H.R. 5376 will only exacerbate, is inflation. Inflation already affects every American family and business. The people of the United States have suffered seven straight months of inflation above 4%, five of them above 5%, and October inflation exceeding 6%.
H.R. 5376 will only worsen the hidden tax of inflation, already reaching the highest level in 30 years. Inflationary pressures will stem from the climate provisions, adverse effects on our mature domestic energy industry, government price controls that will stifle U.S. innovation and competitiveness, and massive new government spending.
Every American — including those who would receive subsidies from the spending side of H.R. 5376 — will pay substantially more on a daily basis, due to even greater inflation, on every purchase they make and every bill they pay.
We reiterate CPR’s strong, principled opposition to H.R. 5376. We urge you to vote against this measure for the sake of easing already skyrocketing inflation, the cruelest tax.
Conservatives for Property Rights
Kevin L. Kearns
U.S. Business & Industry Council
Center for Individual Freedom
Taxpayers Protection Alliance
Center for a Free Economy
American Policy Center
Director of Public Policy
The Committee for Justice
James L. Martin
60 Plus Association
Saulius “Saul” Anuzis
60 Plus Association
C. Preston Noell III
Tradition, Family, Property, Inc.
Phyllis Schlafly Eagles
American Business Defense Council
Frontiers of Freedom
Americans for Limited Government
Americans for Limited Government Foundation