Economy
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More on Economy
Over the last several months, President Joe Biden has desperately traversed the country trying to resuscitate his plummeting poll numbers and reassure American families that his economic agenda is working. He claims that multi-trillion-dollar investments in green energy and excessive government spending will propel our economy into unprecedented heights of American prosperity.
WASHINGTON, D.C. – Today, U.S. Rep. Randy Feenstra issued the following statement after the national debt surpassed $33 trillion for the first time in American history:
WASHINGTON, D.C. – Today, U.S. Rep. Randy Feenstra (R-Hull) issued the following statement regarding the Congressional Budget Office’s annual long-term budget outlook, which was officially published in late June.
WASHINGTON, D.C. – Last week, U.S. Rep. Randy Feenstra (R-Hull) led eight of his Republican colleagues on the House Ways and Means Committee in sending a letter to the German Minister of Finance, Mr. Christian Lindner, over concerns that portions of Section 49 of the German tax code include a discriminatory and unfair tax that targets American businesses and their profits.
On June 28th, President Biden traveled to Chicago — the epitome of failed liberal policies — to tout the so-called successes of his economic agenda, which he has coined “Bidenomics.” According to the President, “Bidenomics” has unleashed the greatest economic boom in American history. Allegedly, thanks to his economic plan, prosperity abounds, families thrive, our economy grows, and small businesses succeed. Those who don’t see the benefits of “Bidenomics” just haven’t been watching — according to Biden, of course.
Homeownership forms the core of the American dream. A home allows families to build equity, plant their roots and, most importantly, make lasting memories.
However, due to the bleak state of our economy, that dream is out of reach for too many families in rural Iowa.
Well over two years in, the Biden administration clearly is failing to represent US economic interests on the global stage. And perhaps the best example is how it’s handling the international tax negotiations at the OECD.
Over the course of Biden’s time in office, this administration has enacted billions of dollars of new taxes on American businesses and has proposed trillions more. At the Organization for Economic Cooperation and Development, the administration found common cause with their international counterparts, all agreeing on higher taxes for American companies.
Thanks, in large part, to President Joe Biden’s tax-and-spend policies, the state of the American economy is bleak. Wasteful government spending fueled the worst inflation crisis in more than forty years, small business optimism has plummeted, interest rates on everything from home mortgages to car loans continue their devastating trajectory upwards, and the cost of farm inputs remains historically high. Left unresolved, these economic challenges will spell disaster for American prosperity, productivity, and competitiveness.
Earlier this month, I led a letter joined by seven of my colleagues to Treasury Secretary Janet Yellen raising our concerns about an extraterritorial tax Germany is imposing on American companies.
President Biden’s economic agenda – which he has coined “Bidenomics” – has failed our families, farmers, small businesses, and rural communities by every measure possible. 61% of Americans reported living paycheck to paycheck, 71% of Americans have a negative view of the state of the economy, and gas prices continue their upward trajectory. Even more concerning, credit-car and car-loan delinquency rates are rising with American families now carrying a record one trillion dollars in credit-card debt.