Economy
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WASHINGTON, D.C. – Today, U.S. Rep. Randy Feenstra (R-Hull) introduced the Paid Family and Medical Leave Tax Credit Extension and Enhancement Act to help small businesses offer paid family and medical leave (PFML) to their employees.
On June 18th, the nonpartisan Congressional Budget Office (CBO) – the government agency tasked with monitoring our nation’s fiscal health – confirmed my serious concerns with President Biden’s reckless spending agenda. His administration’s fiscal policies have not only caused cumulative inflation to skyrocket by over 20% since he took office, but they have also accelerated our accumulation of debt to levels that are beyond unsustainable.
WASHINGTON, D.C. — Today, U.S. Rep. Randy Feenstra (R-Hull) supported, and the U.S. House of Representatives passed by voice, the Rural Small Business Resilience Act. This legislation would ensure that small businesses have full access to the financial support that they need after a disaster.
Our economy is in tough shape. Cumulative inflation has skyrocketed by nearly 20% since President Biden took office while real wages have fallen by roughly 4.4%. The Bureau of Economic Analysis estimated that the economy grew at a rate of only 1.3% in the first quarter of 2024 – three points lower than predicted – while interest rates have surpassed their highest levels in 23 years.
WASHINGTON, D.C. – Today, U.S. Rep. Randy Feenstra (R-Hull) voted for, and the U.S. House of Representatives passed, the CBDC Anti-Surveillance State Act, which would prevent the Federal Reserve from authorizing the creation of a digital dollar.
WASHINGTON, D.C. – Last Friday, U.S. Rep. Randy Feenstra (R-Hull) led a letter with 9 of his colleagues on the House Ways and Means Committee to Secretary of the Treasury Janet Yellen outlining the harmful economic and deficit impacts of the Biden administration’s digital trade policy decisions.
On my 36 County Tour, I have met with families, small business owners, and childcare providers who are rightfully concerned about the skyrocketing cost of childcare. As a father of four, I agree that we need real solutions to lower costs for our families, especially as inflation eats away at paychecks and gas prices are on the rise.
On my 36 County Tour, workforce issues and labor shortages are topics of constant and repeated concern when I’m meeting with farmers, small business owners, manufacturers, childcare centers, hospitals, and other enterprises. With so many job openings in Iowa and nationwide, we need to do everything possible to help our businesses, manufacturers, and hospitals hire, train, and retain quality employees.
In 1933, the federal government established the foundation of what would eventually become the Supplemental Nutrition Assistance Program – better known as SNAP – when President Franklin Delano Roosevelt signed into law the Agricultural Adjustment Act during the Great Depression. Now, almost 100 years later, 42 million people receive SNAP benefits, which costs American taxpayers approximately $145 billion every year. Naturally, as this government program has grown, waste, fraud, and abuse have also grown with it.
The number and severity of unprecedented challenges our nation faces are growing at a time when our capacity to address them is declining.
Economically, Americans continue to see their cost of living rise relentlessly in the face of inflation. Homeownership is increasingly unaffordable for most Americans, with 99% of America’s counties seeing a new peak in housing costs as climbing interest rates and a lack of housing supply make buying a home, or even renting one, increasingly out-of-reach.