Americans are fed up with Democrats’ one-party rule in Washington. The left’s out-of-control spending has led to sky high consumer prices — devastating workers and families. Real wages are falling and everyday essentials like groceries, housing, and energy are unaffordable. Thanks to Democrat-induced inflation, more than three in five Americans are now living paycheck to paycheck.
Last year, Democrats attempted to sell their so-called American Rescue Plan as a panacea for our economic recovery from the pandemic. Instead, the American people were saddled with 40-year high inflation, a crushing labor shortage, and supply chain bottlenecks.
President Biden recently doubled down on his disastrous economic strategy by signing another reckless spending bill into law. Democrats attempted to mislead the American people by dubbing it the Inflation Reduction Act, despite non-partisan organizations — ranging from the Congressional Budget Office to the Penn-Wharton Budget Model — finding the legislation will not meaningfully stabilize consumer prices. To top it off, last month President Biden announced he will “cancel” student debt by executive fiat, shifting this massive financial burden from college-educated elites to hardworking American taxpayers and fueling inflation.
Democrats attempted to sell their so-called American Rescue Plan as a panacea for our economic recovery from the pandemic. Instead, the American people were saddled with 40-year high inflation, a crushing labor shortage, and supply chain bottlenecks.
American families simply cannot afford Democrats’ far-left agenda. In fact, 70 percent of Americans say our country is headed in the wrong direction, according to a recent poll by Politico and Morning Consult.
Republicans have a plan to rebuild the greatest economy in decades – experienced pre-pandemic, under GOP leadership. The Task Force on Jobs and the Economy is offering solutions to fix Democrats’ mismanagement of our economy and get our recovery back on track. Our proposals target four key themes:
Getting Americans Back to Work. Under Democrat leadership, millions of small businesses can’t find workers and the U.S. Labor Force Participation Rate continues to fall. House Republican proposals, like preserving flexibility for working families and ensuring fulfilling careers for future generations, will rebuild the American work force.
Securing U.S. Supply Chains. Democrats have consistently put their radical agenda over fixing our broken supply chains. Nowhere is this more evident than the unconscionable baby formula shortage. House Republicans will take action to end our dependence on China and get goods moving again to ensure critical products are available across the country.
Sound Money, Fiscal Sanity, & Budget Enforcement. Democrats’ reckless spending created 40-year high inflation, making life unaffordable for millions of Americans. House Republicans will reorient our economy around sound money principles by returning fiscal sanity and budget enforcement to Washington. A House GOP majority will also provide robust oversight of the Biden Administration to ensure taxpayer dollars are not vulnerable to waste, fraud, or abuse.
Growth Through Innovation. Innovation is central to American progress. It is also deflationary. By ensuring our regulatory and tax structures create an environment that fosters innovation, we can help entrepreneurs create the jobs of the future here in the U.S. and create sustainable, long-term growth
This is just one piece of Republicans’ Commitment to America. A House GOP Majority will be committed to creating long-term sustainable growth that strengthens our economy and provides opportunities for all Americans.
Patrick McHenry represents the 10th District of North Carolina in the U.S. House of Representatives. He serves as the Republican Leader of the House Financial Services Committee, and is Chairman of the House GOP Task Force on Jobs and the Economy.