The Moore You Know Column: August 9 - August 23, 2024
The Biden-Harris economy
This week, the Biden-Harris Department of Labor revised their hiring statistics, admitting that the United States added 818,000 fewer jobs than previously reported. This is the largest revision in more than fifteen years.
These numbers are part of the truth the Biden-Harris Administration doesn’t want Americans to see. They’re just another piece of evidence that economic growth is stunted. Inflation is so bad that after an entire year of holding interest rates at their highest level in 23 years, the Federal Reserve is still not confident enough that inflation is headed in the right direction.
The truth Americans already see at the gas pump and the grocery store is that consumer prices are up 17 percent, gas prices are up 36 percent, and 30-year mortgage prices are up 5 percent, so it’s not surprising that credit card debt it up 40 percent.
The only thing trending downward? Americans’ paychecks.
Over the last four years, American families have been forced to cut back on vacations, grocery lists, and large purchases such as cars and homes. Real wages, the money American families actually have to take home, are down four percent. Under President Trump, real wages were raised by five percent and five million jobs were created thanks to his tax cuts.
Biden and Harris want to end Trump’s tax cuts and raise taxes by seven billion dollars.
If the Trump tax cuts end, the average family of four earning less than $75,000 per year will face a $1,500 tax hike.
Working families are not an ATM built to fund the Biden-Harris Administration’s out-of-control spending, but Kamala Harris believes they are. That’s why she was the tie-breaking vote in the Senate for the “Inflation Reduction Act,” which did nothing more than increase government spending by 10 trillion dollars.
President Trump and House Republicans want to help working families get ahead. And we know that a smaller government, less regulations, and less taxation is the way to make that happen.
We want to extend the Trump tax cuts and make gas and groceries affordable again. That’s why the first bill the House passed this Congress was H.R.1, the Lower Energy Costs Act, which would lower energy costs for American families, farmers, and businesses by removing unnecessary regulatory barriers to critical energy projects and by increasing our energy independence.
My colleagues and I will keep fighting to ensure American families can keep more of their hard-earned money in their wallet.
If you need help from my office with the VA, IRS, or another federal agency, or if we can help you with a government service like processing a passport request, I hope you will reach out to us. We’ve resolved over 5,300 cases since I took office in 2021. Visit one of my offices in Wetumpka, Dothan, Andalusia, Troy, or Washington, call us at 334-478- 6330, or visit http://barrymoore.house.gov to learn how we can help.
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