shot. Welcome back amid this
lingering pandemic in the
gargantuan government response,
deep concerns are being raised
about the sheer financial cost
being inflicted on the nation.
When you add separate, multi
multi trillion dollar Biden
administration initiatives, the
mounting debt and corresponding
threat of inflation have
triggered alarms from the likes
of Congressman Kevin Brady,
former chairman of the House
Ways and Means Committee and
author of the biggest tax cut
in American history. Hey, look,
we count on you to watch the
money that's coming into our
government. And also the money
that's going out. Are you
concerned with the level of
spending that is going on with
the Biden administration so
very concerned? I think every
American should be a as well.
So you know, I think everyone
understands we had to react. To
this COVID and we did go
through the health care crisis
and the economic crisis. But
much of this emergency is now
over and now it is really time
to return to, if not normal,
spending frankly, more fiscally
responsible spending. I'm
really worried too. All this
on families and local
businesses. Right now Democrats
want to add another almost $5
trillion of fuel to that
inflation. I really worry what
that does for families. You
know you've been around this
this. A economy for many years.
dangerous in its erosive power.
Correct it is it is a tax and
it robs from your paycheck. And
the problem we have is that
once it gets embedded, so that
expectation it is so painful to
get it out the Fed and I think
the White House's is woefully
underestimated just how high
prices have become. And how
long they may last, and I worry
going forward that there are a
number of provisions in the new
spending bill that actually pay
people not to return to work.
If that's the case, you know, I
think you'll see higher prices
and slower during deliveries.
And in bigger costs for our
local businesses For the long
term. None of us wants to see
that happen. We asked
Congressman Brady about the
forthcoming infrastructure bill
on deck for vital once in a
generation upgrades. Is that a
tough sell to try to get some
protection for the Houston ship
Channel when we think about
what would happen to our
economy if all of that vital.
Industrial infrastructure were
knocked out of commission. It
is a compelling argument, not
just for our area, obviously,
but for the national security
and economic security of the
entire country. Unfortunately
we've got a couple. I think bad
news items coming here One
President Biden's budget he
does not want money going to
ports. Where we refine fossil
fuels export or import them. So
it puts Texas ports at a big
disadvantage for funding.
Secondly in the tax hikes bill
at the Ways and Means Committee
will take up next week. It's
really getting rushed through
the house. The White House is
proposing over $100 billion of
tax hikes to really I think
it's almost a kill shot on our
oil and gas industry could cost
up to a million a half jobs. Uh
much of that here in Texas, and
so we've got some real
challenges in Congress right
now for regions like ours,
where traditional oil and gas
have played such a big.
Important role for our economy.
Unfortunately we are really
taking dollars diverting
dollars away from real
infrastructure and we build the
economy for what I think could
be the. Largest expansion of
the welfare state in American
history, and I worry will
create a new generation
dependent on government checks
rather than reconnecting them
to work long term. I think
that's really dangerous for the