President Biden’s has no plan to address inflation, and his current proposals will make inflation even worse. If fighting inflation is Democrats’ top priority, they should stop offering partisan gimmicks and work with Republicans to get the economy back on track. As the Wall Street Journal reported:

 

Key Excerpts: 

 

• “‘The Biden Administration has offered no real solutions—just more Washington spending and higher taxes on Main Street businesses that will fuel higher prices in the future,’ said Rep. Kevin Brady (R-TX), the top Republican on the Ways and Means Committee.”

• “Republicans have focused on inflation, which hit 8.6 percent in May for its highest level since 1981, as Democrats’ greatest vulnerability this fall. They have argued that the Biden Administration’s policies, including its push to enact a $1.9 trillion pandemic aid package in early 2021, have helped fuel price increases.”

 

Note: This claim is supported by a San Francisco Federal Reserve analysis showing that the U.S. is leading the world on inflation due in part to President Biden’s stimulus. 

 

• “The House outline includes policies that Republicans have advocated before, including rescinding unused federal spending, extending expiring tax cuts, increasing energy production and removing some regulations..”

CLICK HERE to read more in the Wall Street Journal.

CLICK HERE to read Ways and Means Republicans’ Steps to Fight Biden-flation.

 

Key Background:

 

President Biden Fueled Inflation and the Worker Shortage:

• Democrats’ $2 trillion so-called “Covid Stimulus” discouraged work, fueled the labor shortage, shrunk the economy, and sent inflation soaring, a recent report by the Congressional Budget Office (CBO) confirms.
• From denying inflation and claiming it was “temporary,” to passing the buck with “Putin’s Price Hike,” the White House and congressional Democrats are out of touch with the challenges Americans face.

 

Democrats’ Build Back Better Will Make Inflation Worse: 

• Democrats’ so-called solutions, including partisan gimmicks and crippling tax hikes would make matters worse.
• Analysis from the Penn Wharton Budget Model (PWBM) found that Democrats’ Build Back Better plan would tank economic growth, slash wages, worsen the labor shortage, and add to the deficit.

 

American Families and Main Street Businesses are Suffering From Higher Prices: 

• Inflation has slashed workers’ wages by nearly four percent, which is why Americans are growing increasingly worried about a looming recession.
• Small business optimism reached record lows last month, according to recent polling.
• President Biden’s economic policies have been so disastrous and inflationary, that since March of 2022, nearly 40 economists have raised concerns about a looming recession.

 

READ: Brady: A Long Hot Summer of Biden-flation Has Begun