“Throughout consideration of the Build Back Better Act, I have been focused on getting the best possible deal for my constituents. That means digging into the details of the legislation and offering constructive feedback on how to improve the bill, as I have for the past several months,” Golden said in a statement released on Thursday.
Golden added “that doesn’t mean I will oppose a final version of this bill if some meaningful changes are made to this legislation.”
The congressman’s primary concern focused on “a $280 billion tax giveaway to millionaires.”
“First and foremost, the president has committed not only that this bill will be paid for but also that the wealthy will pay for it. Unfortunately, the bill before us today does not meet either of those tests,” Golden said.
“As it stands, the largest single provision in the Build Back Better Act is a $280 billion tax giveaway to millionaires, and the bill has abandoned the opportunity to adopt a tax on billionaires that would ensure that the ultra wealthy pay taxes just like working people. I can’t accept that these wealthy giveaways represent the best deal I can get for my constituents,” he added.
Golden noted that other Democrats argued the tax breaks are worth accepting to pass the bill. The congressman respectfully disagreed.
“Many of my colleagues argue this major line item is worth accepting to pass the rest of the bill. I disagree: the SALT giveaway in the Build Back Better Act is larger than the child care, pre-K, healthcare or senior care provisions of the bill. As a result, the legislation would give a millionaire nearly 20 times more money than it would provide a low-income family through the Child Tax Credit,” Golden said in the statement.
The congressman has suggested his own improvements to better refine the legislation.
“I will continue to advocate that we follow through on the president’s commitment by paying for these middle class investments by raising revenue from the millionaires and billionaires who can afford it. It is not too late to complete work on the Wyden billionaire tax proposal and to limit any SALT changes to middle-class households,” Golden noted.
Golden concluded with a hopeful focus on moving forward with the legislation.
“My vote today is not the final word. The Senate must take up and pass legislation, which would then come back to the House for final consideration. For as much as the public and media have talked about reconciliation over the past few months, the legislative process is not yet complete. I will continue to stay at the table and negotiate for the best deal possible until the very last opportunity,” he concluded.
Republican House members unanimously rejected the legislation. The bill passed Friday morning in a 220–213 vote that was otherwise along party lines.
The bill will now proceed to the Senate where the legislation will continue to face scrutiny in the 50–50 divided group.