Americans are learning that President Biden’s economy is a cruel economy, and is now headed towards a recession. Yet, Senate Democrats are trying to add a trillion dollars in higher taxes on Main Street businesses, Ways and Means Republican Leader Rep. Kevin Brady (R-TX) said on “The Journal Editorial Report” with Paul Gigot on Fox News.

 

CLICK HERE to watch the interview.

 

American families and workers are finding out that Joe Biden’s economy is a cruel economy.

 

“Most Americans are learning that Joe Biden’s economy is a cruel economy. We got a double dose of bad inflation news this week. Inflation is raging, both for families and for Main Street businesses. It is getting worse, and is accelerating. Workers are seeing significant pay cuts. Families and Main Street businesses are already struggling with the worker shortage and high prices.”

 

Senate Democrats are reportedly trying to revive more crippling tax hikes at the worst possible time.

 

“This really tells us inflation is going to stay high for an extended period, which makes it more alarming that the President and Senate Democrats continue to try to work up about a trillion dollars in higher taxes on Main Street businesses, and on investors here in America. I just don’t understand what country raises taxes as your nation heads into a recession. It just doesn’t make sense.”

 

President Biden and the Fed’s inflation denial worsened inflation and pushed the economy into a recession.

“The denial for the last year really put them and our economy into a pickle. They’re going to have to get more aggressive if they’re serious about disinflating. We always look at inflation year over year, but last month’s numbers really translate if they hold at almost 17 percent inflation on the consumer side and close to 14 percent on the business side. Those are alarming numbers. And they’re getting worse.

 

Republicans have outlined steps to get our economy back on track.

 

“We need supply-side incentives that help drive more consumer products, more electronic products that can help ease the inflation. We’re going to need more workers. We still have a significant worker shortage. The Administration doesn’t seem concerned about that. But for our Main Street businesses, it is helping drive inflation and keeping those shelves too empty.”

 

President Biden and the Fed’s inflation denial worsened inflation and pushed the economy into a recession.

 

“Because of the delay in acting on this, we’re going to inevitably see a recession. I worry it could be a harsh one and lengthier than anyone wants.”