Economy
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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.
WASHINGTON, D.C. – Last Friday, U.S. Rep. Randy Feenstra (R-Hull) voted to advance the Tax Relief for American Families and Workers Act out of the House Ways and Means Committee for consideration on the floor of the U.S. House of Representatives.
It takes a tremendous amount of hard work to start a small business and run a farm. From balancing the books and maintaining inventory to paying employees and complying with burdensome rules and regulations, these enterprises require long hours and real commitment to be successful and profitable. In Iowa, many of our farms and small businesses are family-owned-and-operated, which is not only a testament to the grit and dedication of our families, but also a source of pride for our great state.
WASHINGTON, D.C. – Today, U.S. Rep. Randy Feenstra (R-Hull) led 162 of his colleagues in introducing the Death Tax Repeal Act. This legislation would permanently repeal the death tax, which imposes an unfair and costly tax on the transfer of property, land, and other assets from a deceased family member to heirs of family farms and small businesses.
WASHINGTON, D.C. – Today, U.S. Rep. Randy Feenstra (R-Hull) voted for, and the U.S. House of Representatives passed, the China Exchange Rate Transparency Act.
WASHINGTON, D.C. – Today, U.S. Rep. Randy Feenstra (R-Hull) voted for, and the U.S. House of Representatives passed, the Ensuring Accountability in Agency Rulemaking Act. This legislation would simply require the heads of federal agencies to personally sign off on every rule and regulation that they plan to impose on American families, farmers, and businesses.