Economy

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More than a month after federal law requires, President Biden finally submitted his budget proposal for Fiscal Year 2025 to Congress. The $7.3-trillion price tag alone is reason enough to throw this budget in the trash where the rest of President Biden’s trillion-dollar spending packages should have also gone.

WASHINGTON, D.C. – Today, U.S. Rep. Randy Feenstra (R-Hull) issued the following statement on President Biden’s Fiscal Year 2025 budget.

WASHINGTON, D.C. – Last week, U.S. Rep. Randy Feenstra (R-Hull) helped introduce legislation – the Combatting High Inflation Limiting Daycare (CHILD) Act – to help Iowa families cover the skyrocketing cost of childcare by doubling the annual contribution limit for tax-advantaged Dependent Care Flexible Savings Accounts (DCFSAs). The contribution limit would also be adjusted for inflation.

In our free-market economy, Americans should have the freedom to purchase the car or truck of their choice without the federal government putting its thumb on the scale to advance a specific policy preference and distort the market. However, President Biden doesn’t see it that way. He prefers government intervention and costly mandates that support his Green New Deal agenda and further his vision to cripple the American energy sector through executive orders, burdensome regulations, and red tape.

WASHINGTON, D.C. – Today, U.S. Rep. Randy Feenstra (R-IA) and U.S.

WASHINGTON, D.C. – Yesterday, U.S. Rep. Randy Feenstra (R-Hull) – alongside U.S. Rep. Adrian Smith (R-NE) and U.S. Rep. Danny Davis (D-IL) – introduced legislation that would create a new tax credit for small businesses with up to 100 employees for the start-up costs of offering Dependent Care Flexible Spending Accounts (DCFSA) as an employee benefit.

Basic economic theory tells us that when too many dollars chase too few goods, the result is inflation. Americans don’t need to take a course in economics to understand this concept because President Biden personally delivered a real-world example. By wasting trillions of dollars – approved by Democrats in Congress – on more government programs, more red tape, and more bureaucracy, President Biden created the worst inflation crisis that our nation has faced in over forty years.

China poses the greatest threat to America’s economic and national security.

I’ve long believed that cutting taxes for our families, farmers, and small businesses spurs investment in our rural communities, promotes economic growth, and creates good jobs. When we let hardworking Iowans keep more of their hard-earned money, folks are encouraged to start their own enterprises, hire new employees, support businesses up and down our rural main streets, and put money aside for a rainy day.

WASHINGTON, D.C. – Yesterday, U.S. Rep. Randy Feenstra (R-Hull) – a member of the U.S. House Ways and Means Committee – voted for the Tax Relief for American Families and Workers Act. This legislation passed by a margin of 357 to 70.
