Republicans are planning on increasing inflation by cutting taxes for the rich if they win control of Congress.
Via: The Washington Post:
Republicans plan to push to extend key parts of President Donald Trump’s tax cuts if they take control of Congress in this fall’s elections, aiming to force President Biden to codify trillions of dollars worth of lower taxes touted by his predecessor.
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Still, the GOP’s push for tax cuts could also undermine their claims to be determined to bring down inflation. Jason Furman, a former Obama administration economist who has been critical of Biden’s spending record, said the GOP plans would increase inflation at a time of the fastest price hikes in decades.
“The corporate tax cuts the Republicans are pushing would add to inflation, add to the deficit, and do little or nothing for economic growth,” said Furman.
The GOP Is Running A Con On Inflation
Republicans have no plan to deal with inflation. The GOP plan is to win back control of the House and Senate and then try to blackmail Biden into cutting taxes for the wealthy and corporations, which is what Republicans do every time they get control of Congress.
Kevin McCarthy and Mitch McConnell want to cut taxes for the rich, increase inflation, and raise prescription drug prices.
Republicans can do none of this if they only win back the House.
Democrats remain likely to keep control of the Senate, which means that Republican dreams of helping the rich while harming everyone else will likely never happen.
The GOP is running a con on inflation, and if they are given control of Congress, their plan will make things worse, not better, for the American people.
Mr. Easley is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association