Economic Developments / Government Watch / Politics / Taxes

Biden’s Tax and Spend Agenda Hitting Roadblocks

BidenEven before being sworn in as President, Joe Biden talked confidently about his economic vision for America. How he would raise taxes on the wealthy and corporations, but not folks making under $400,000 a year, he said. This is on top of record-breaking spending on COVID relief and economic assistance packages that started last Congress. Eight months into the Biden presidency, we’ve seen more massive spending bills come from the Democrat-controlled Congress, consistently high unemployment, and rising inflation from increased demands for goods and services on regular household items – which hurts middle and low-income earners most. So what are the roadblocks to President Biden’s extreme tax and spend schemes?

Naturally, Republican opposition in Congress is one. To their credit, Republicans have a commendable track record this year in slowing or trimming down President Biden’s plans this year to spend a total of $6 trillion on COVID relief, infrastructure, and an FY2021 budget bill. Despite the Democrat’s ability to use budget reconciliation to essentially pass anything they want in Congress, Republican lawmakers have consistently pushed their weight around.

For starters, they reduced President Biden’s COVID relief bill to $1.9 trillion without voting for it. Next, Republicans offered a slew of amendments to the bipartisan infrastructure deal that ran out the clock on Senate Majority Leader Chuck Schumer’s (D-NY) floor time. Senate Republicans successfully negotiated the removal of any IRS funding, increased pay-for, and the use of already approved spending. That, coupled with successful adoption of several Republican amendments, brought the bill’s overall price tag down from $2.2 trillion to $1.2 trillion, of which approximately $550 billion is new spending. There is only so much you can control from the minority, especially when the majority party has no qualms about changing long-standing rules and Senate procedures to force through their agenda.

In addition, some of the roadblocks standing in the President’s way are of his own creation or from some within his own party who recognize how senseless it is to keep spending at these levels. Biden’s economic plans and actions taken thus far have ballooned our national debt, hampered economic growth, kept unemployment high, and government benefits outflowing, which has all led to an inflation rate that currently stands at 5.4% according to Moody’s, the highest in nearly thirty years. Moderate Democrats are already concerned about their 2022 re-election prospects.

Sen. Joe Manchin (D-WV) recently expressed “serious concerns” regarding the $3.5 trillion price tag of the proposed budget reconciliation bill. “Given the current state of the economic recovery, it is simply irresponsible to continue spending at levels more suited to respond to a Great Depression or Great Recession – not an economy that is on the verge of overheating,” he added.

Esteemed budget analyst and senior fellow at American Enterprise Institute Desmond Lachman recently wrote, “By seeming to have thrown caution to the winds in his budget policy, President Biden risks paying a heavy political price at next year’s mid-term elections and learning a new how difficult it is to tame the inflation beast.”

Fortunately for the American people, Biden’s radical tax and spend schemes have hit some roadblocks in Congress, and now it looks like many more lay on the path before him, including AMAC Action’s team of activists across the country and the American people in general who realize that the spending in Washington is out of control, raising taxes at any level will hurt America’s small business at the worst possible time, and dividing Americans for political gain as the country works to get back on solid economic footing is not the right path forward.

Tell your Representative to Oppose Biden’s Massive Tax and Spend Budget!

Bob Carlstrom is the President of AMAC Action.

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Robert
2 months ago

The left don’t care about America ???????? they want destruction of our country and want socialism and Marxism in our country we have to stand against them and fight

Honey
2 months ago

What I can’t figure out is if Joe Manchi and Sinema say they cannot support this over three trillion package, why did they vote to get it going in reconciliation?

PaulE
2 months ago
Reply to  Honey

Never confuse what a politician says versus what he or she does. Actions ALWAYS reveal where a person really stands. Words are meaningless.

Art
2 months ago
Reply to  PaulE

PaulE you nailed it. What is the ancient question? How can you tell if a politician is lying? Their lips are moving.

Bill on the Hill
2 months ago
Reply to  PaulE

So true Paul in light of what all of these politicians did in signing off on this outrageous NON Infrastructure bill…Most of these embecile politicians, both parties are thinking on one thing, SUMMER RECESS & to hell with the American people…
Bill on the Hill… :~)

Paul DAscenz
2 months ago

Everyone knows Biden Vision for America is to Plunge us into Debt so Deep that it will Bankrupt the USA.
Thats what he’s all about, what a jerk.

Tim Toroian
2 months ago

When there is no more money to borrow it will the government will need to print it: can you spell I-N-F-L-A-T-I-O-N. Rampant inflation.

ObjectiveGuy85
2 months ago

I am rooting for you Joe! Go Joe Manchin!

Bonnie
2 months ago
Reply to  ObjectiveGuy85

Joe Manchin. Didn’t he vote to impeach President Trump?

PaulE
2 months ago
Reply to  Bonnie

Sure did.

Judy Bailey
2 months ago
Reply to  Bonnie

Of course he did. Make no mistake…he is a Liberal.

PaulE
2 months ago
Reply to  ObjectiveGuy85

Yeah Joe’s wife was given a job in the Biden administration and he “clarifies” his stance. He’s now open to reconsidering things under certain conditions. It’s only a question of how much the Democrat leadership has to give Joe to ultimately buy his vote. I will say this, Joe is very smart to realize selling out the voters of his state will likely end his Senate career, but is smart enough to hold out for as much as he can squeeze from the Democrat party. Whatever the final deal ends up being, there is no doubt Joe will never have to work another day in his life and his family will be set as well.

Last edited 2 months ago by PaulE
Bill on the Hill
2 months ago
Reply to  PaulE

Thanks Paul… An excellent summation on Joe Biden’s entire lifetime ambitions as a “career politician”… No matter how things turn out in his current role as the faux potus, he as already dotted his i’s & crossed his t’s for the financial security for both himself & the rest of his parasitic family…
Bill on the Hill… :~)

PaulE
2 months ago

I was referring to Joe Manchin’s wife, not Jill Biden. Biden tossed Joe’s wife a billion dollars for the organization she now heads as well. Always follow the money. Look up Appalachian Regional Commission for yourself. Needless to say, it is safe to say some of that money will find its way into the Manchin family accounts as well. That is why Joe Manchin suddenly became a lot more pliable to voting the way the Democrat party wants.

Judy Bailey
2 months ago
Reply to  ObjectiveGuy85

Beware Joe Manchin. He is a Liberal.

HocasPocas
2 months ago
Reply to  ObjectiveGuy85

I thought you were outta here?

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