South Carolina Republican Sen. Tim Scott blasted the Left’s “reckless spending” and its impact on holiday shopping across the U.S. as President Joe Biden nears the end of his first year in office with soaring inflation and an ongoing supply chain crisis.
“The supply chain crisis has left shelves empty this holiday season! We’ve got to stop the reckless spending if we want to get the marketplace back on track,” Scott tweeted on Thursday.
The supply chain crisis has left shelves empty this holiday season! We’ve got to stop the reckless spending if we want to get the marketplace back on track. pic.twitter.com/2iAP1646RF
— Tim Scott (@SenatorTimScott) December 23, 2021
The searing words followed a statement released by the senator on Wednesday demanding that Treasury Secretary Janet Yellen renew requests for information regarding international tax negotiations. Scott, along with the other GOP members on the Senate Finance Committee and several Senate Republicans, argued that the Treasury Department “has been unwilling or unable to fully engage with Congress to provide details” that are impacting Americans.
“The Administration’s rush to reach a political agreement, tied to its domestic spending plans and pursuit of revenue, has come at the expense of thorough analysis and meaningful engagement with Congress and the business community, and may ultimately put U.S. businesses at risk. . . . Given this agreement’s potential to jeopardize U.S. competitiveness, we continue to have concerns with the lack of detail underlying the approach being proposed under Pillar One and its lack of foundation in any discernible tax principles,” the Republican leaders wrote in the letter.
While negotiating an international tax agreement with far-reaching effects on U.S. businesses and workers, the Biden administration has left Congress in the dark.
My fellow @SenFinance Republicans and I are calling for answers. https://t.co/nEisgyQoaO
— Tim Scott (@SenatorTimScott) December 22, 2021
“Further troubling is Treasury’s continued insistence that the United States once again move first by significantly increasing the U.S. global minimum tax. . . . As Pillar Two does not require other countries to adopt a global minimum tax, we are not confident that our biggest foreign competitors, like China, will enact and implement a global minimum tax on the same terms or on the timeline agreed to at the OECD,” the letter added.
Last week, Scott addressed rising inflation with hosts Bill Hemmer and Dana Perino on Fox News’ “America’s Newsroom.” The senator again hammered against Democrats’ out-of-control spending that has led to surging inflation and addressed ways to slow the nation’s increasing prices.
“There’s no doubt that, when you think about inflation—this bone-crushing, life-changing, hope-stealing, job-killing inflation—there’s no doubt in my mind that I’m thankful that it’s no longer considered transitory. Finally, Chairman Powell is speaking the truth, which is [that] this is unprecedented. The last time inflation was this high, I had an afro,” Scott said during the interview.
“The truth is that we have to find a way to forge forward by reducing spending from the federal government and allowing raises to increase in the private sector. That means that we have to pull back on this ‘Build Back Broker’ plan that the Democrats are still trying to weave together,” the senator added.
Up nine percent from last year, inflation is forcing many Americans to make tough choices.
The solution is simple. Get government out of the way & stop this reckless spending. pic.twitter.com/DAcRfxpc0X
— Tim Scott (@SenatorTimScott) December 16, 2021
To address the Biden administration’s spending issues, Scott proposed “more focus on an incentive-based economy where we let the private sector do what they do really well and getting the government out of the way.”