With over 10 million job openings left without workers, President Biden is breaking his jobs promises and small business owners are desperate.
President Biden discouraged Americans from reconnecting to work by paying the jobless lavish unemployment benefits, sending stimulus checks after the economy was already recovering, and creating “emergency” social programs that no longer required Americans to work to be eligible.
KEY POINTS:
Small businesses are still struggling to fill jobs.
- A recent Goldman Sachs survey shows Main Street businesses rank finding and retaining employees as their biggest problem.
- Finding workers even ranked above skyrocketing inflation and supply chain issues – both causing rising costs for business owners – as the number one problem.
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Democrats’ expanded child tax credit kept Americans from reconnecting to work.
- Democrats separated the child tax credit from work – hooking a new generation on government checks and increasing child care costs while keeping Americans at home and leaving businesses struggling to find workers.
- From the Foundation for Government Accountability (FGA):
“What was once a reasonable credit used to offset a working parent’s tax liability at tax time has become a stream of welfare payments distributed in regular deposits into the bank accounts of millions of Americans, even if they are not working.
“In fact, for a single parent with two dependents, the value of the Child Tax Credit is now larger than the most generous cash welfare payment that same family could receive. The Child Tax Credit has become welfare – with no incentive or requirement to work.”
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- Research from the University of Chicago also found the Democrats’ proposed Child Tax Credit expansion would lead 1.5 million workers to exit the labor force – another devastating blow to Main Street businesses.
President Biden is holding back our economic recovery and making the labor shortage worse.
- Faced with worker shortages, higher prices empty shelves, and potential tax hikes, small business optimism in the future has plunged to its lowest in 48 years.
READ: America’s Economy Was Poised for Greatness in ’21: How Did Biden Bungle It This Badly?
READ: Study: Biden’s Unemployment Bonus Held Back Economic Recovery