WASHINGTON, July 28—Associated Builders and Contractors today released the following statement regarding the Senate Democrats’ reckless tax and spending spree:

“The Democrats’ deal to hike taxes in support of hundreds of billions more in government spending while we are already contending with record-high inflation would plunge the U.S. economy into a recession,” said ABC Vice President of Legislative & Political Affairs Kristen Swearingen. “Forcing restrictive labor policies on America’s job creators in this economy would be an additional blow to the construction industry and our workforce.”

“Severe tax hikes on American companies would further exacerbate high materials prices for construction projects, which have increased by 20% during the past 12 months,” said Swearingen. “Further, this bill delivers political favors to the president’s and Democrats’ labor backers, penalizing employers that believe in fair and open competition and pay wages based on experience, quality and market rates and limiting opportunities for thousands of industry-skilled apprentices. For an industry facing a workforce shortage of 650,000 in 2022, this is no time to impose the short-sighted, costly labor policy proposals continually offered by Democrats in Washington.

“ABC opposes these ill-advised efforts and encourages the Senate to reject this reconciliation bill and work to support common-sense policies that combat rising inflation and recessionary trends, lift our economy and create jobs throughout the country,” said Swearingen.