In the midst of a recession, Congressional Democrats are planning to raise taxes on America’s job creators, throw money at their Green New Deal agenda, and worsen America’s inflation crisis with their Far-Left Socialist reconciliation package.
THE FACTS ON DEMOCRATS’ SOCIALIST RECONCILIATION PACKAGE:
Raises taxes on businesses when Americans are already paying more for just about everything.
These tax increases will be passed on to the consumer, stifle reinvestment in infrastructure, R&D, and workers, and only exacerbate the current supply chain crisis.
Allows the IRS to hire 87,000 new agents to target American families and businesses.
Implements socialist price control schemes for prescription drugs that will negatively impact seniors, patients, those with rare diseases, and their families.
Extends Obamacare subsidies—enacted under the American Rescue Plan and set to expire after 2022—for 3 more years, through 2025, benefiting the wealthy and subsidizing people who already have insurance.
This expands federal spending without enacting any meaningful reform to a broken system.
Incites inflationary pressure when inflation is already at a 40- year high.
Spends $369 billion in “Green New Deal” initiatives. Americans deserve efficient, affordable, and American-made energy, yet Democrats continue to pursue policies that have doubled gas prices since Joe Biden took office and destroyed U.S. energy independence.
BIDEN’S ECONOMIC CRISIS BY THE NUMBERS:
Inflation is a tax on ALL Americans.
Click HERE to see how much Biden-flation has impacted your home state.
A new report yesterday shows the real gross domestic product (GDP) decreased at an annual rate of 0.9% in the second quarter of 2022, according to an advanced estimate released by the Bureau of Economic Analysis.
This follows a GDP decline of 1.6% within the first quarter, meaning that we have hit the rule-of-thumbrecession definition: two consecutive quarters with negative GDP readings.
In June, the CPI soared 9.1% for the 12 months ending June, the largest 12-month increase since the period ending December 1981.
Biden’s inflation crisis has cost the average American workerOVER $3,000 in annual income.
The skyrocketing cost of goods and services will cost the average American household nearly $6,000.
Real average hourly earnings decreased 3.6%, seasonally adjusted, from June 2021 to June 2022 because of Biden’s inflation crisis.
IT'S SIMPLE: Instead of addressing the root cause of inflation – out-of-control government spending – Joe Biden and Congressional Democrats are now doubling down to ‘Build Back Broke.’
