Rep. Donalds Presses OMB on Higher Taxes and Inflation; Wife Erika Says Schools Making Kids “Victims of Their Parents’ Family Values”

On 4/4/2022, Rep. Byron Donalds pressed OMB Director Shalanda Young on whether raising corporate taxes from 21% to 28% would increase prices in an already inflationary economy — Young insisted it would not, despite acknowledging corporations “always pass on cost increases.” Donalds also challenged the administration’s plan to eliminate all fossil fuel tax benefits. Separately, his wife Erika Donalds, a school choice leader, condemned school indoctrination, saying schools were “making kids victims of their own parents” through gender ideology and CRT, and defended Florida’s Parental Rights in Education law.

”Corporations Always Pass On Cost Increases”

Donalds exposed the contradiction in the administration’s position. “Does the administration believe that higher corporate income taxes will force an increase in prices in an already inflationary environment?” Donalds asked.

“We do not believe that is the case,” Young said.

“Corporations always pass on cost increases. They’re doing it with inflationary costs, the cost of freight, the cost of wheat, the cost of oil — that’s all being passed through,” Donalds countered. “Yes or no?”

“We don’t believe that asking corporations to pay 28% — they used to pay 35% before the last tax cuts — will increase inflationary pressures,” Young insisted.

Donalds then cited data. “Does the administration acknowledge that when the corporate tax rate was cut from 35% to 21%, the United States raised more revenue in corporate income taxes than at any other point in American history?”

Young pivoted to loopholes. “50 Fortune 500 corporations paid no taxes,” she said. “And corporations continue to make more. That is the point.”

Eliminating All Fossil Fuel Tax Benefits

Donalds pressed on the budget’s energy provisions. “The administration is saying they’re going to unwind every tax benefit associated with fossil fuels. Do they believe that completely eviscerating all oil and natural gas tax treatments we’ve had for 30, 40 years will lead to lower prices?” Donalds asked.

“We don’t believe the tax structure offered will lead to increased gas prices,” Young said.

Donalds pointed out the double standard. “Is it fair for the green energy portion to have significantly more favorable tax treatment than oil and natural gas?” he asked.

Young defended the subsidies. “Many consumers want solar panels. Many consumers want electric vehicles. The government, we believe, the best way to help them achieve that is to provide subsidies through our tax system,” Young said.

”Victims of Their Parents’ Family Values”

Erika Donalds, a school choice advocate, condemned school indoctrination practices. “With this gender ideology, the schools are making kids victims of their own parents and dividing them from their parents,” Erika Donalds said.

“Not only do we need school choice to make sure parents can choose the school academically best for their child, but they also need to be able to choose a school they can trust not to tell their children that they are actually victims of their parents’ family values,” she continued.

Rep. Donalds framed the Florida law as common sense. “Parents — who thinks this is appropriate to talk to kindergartners about sex? This is insane,” Donalds said. “Ron DeSantis and the Florida legislature did the absolute right thing by banning this activity in our schools.”

“When you’re a young child, you’re there to learn how to read, learn basic multiplication facts, and learn history — not being indoctrinated about sexual identity and gender fluidity,” Donalds added.

Disney Goes Woke

Erika Donalds connected the school issue to the Disney controversy. “What’s happening at Disney right now, where Disney’s completely gone woke, and you’re having parents again who are saying, ‘No Disney, we’re not going to do business with you anymore if this is what your ethos is going to be with respect to our kids,’” she said.

Prices Up Before Putin

Donalds forced Young to acknowledge a key fact. “Oil prices have been up far before Vladimir Putin invaded Ukraine on February 24,” Donalds said. “The price of a barrel was already significantly higher than what it’s been over the last four years.”

“I acknowledge that there were increased energy prices that have further increased since Russian aggression,” Young conceded.

Key Takeaways

OMB Director Young insisted raising corporate taxes to 28% would not increase prices — while Donalds noted corporations “always pass on cost increases” and already were doing so.
The budget proposed eliminating all fossil fuel tax benefits while maintaining green energy subsidies — Donalds called the double standard unfair.
Erika Donalds said schools were “making kids victims of their parents’ family values” through gender ideology and CRT.
Rep. Donalds said talking to kindergartners about sex was “insane” and defended DeSantis’s Parental Rights in Education law.
Young acknowledged energy prices were up before Putin’s invasion but attributed further increases to “Russian aggression.”

Transcript Highlights

The following is transcribed from the video audio (unverified — AI-generated from audio).

Corporations always pass on cost increases. We don’t believe asking them to pay 28% will increase inflationary pressures.
When the rate was cut to 21%, the U.S. raised more corporate income tax revenue than ever. Corporations continue to make more. That is the point.
Schools are making kids victims of their own parents, dividing them from their parents through gender ideology.
Who thinks it’s appropriate to talk to kindergartners about sex? This is insane. DeSantis did the right thing.
Is it fair for green energy to have more favorable tax treatment than oil and gas? We believe the best way is to provide subsidies.
Oil prices were up far before Putin invaded. I acknowledge increased energy prices before Russian aggression.

Full transcript: 1297 words transcribed via Whisper AI.