Economy
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For the last three years, the Biden administration has been defined by reckless government spending, rising prices, and crushing red tape and regulations. These misguided policies have fueled inflation and harmed our economy – making life unaffordable for our families, increasing operating costs for our main street businesses, and stifling investment in American jobs and manufacturing.
WASHINGTON, D.C. – Today, U.S. Rep. Randy Feenstra (R-Hull) voted to stop President Biden’s latest student-loan forgiveness scheme.
WASHINGTON, D.C. – Today, U.S. Rep. Randy Feenstra (R-Hull) voted for, and the U.S. House of Representatives passed, a resolution nullifying the Consumer Financial Protection Bureau’s expanded enforcement of Section 1071 of the Dodd-Frank Act, which would increase the cost of loans, restrict capital for businesses, and stall economic development in rural communities.
Washington, D.C. – Today, U.S. Reps. Randy Feenstra (R-IA) and Danny K. Davis (D-IL) introduced the Upskilling and Retraining Assistance Act and the Upward Mobility Enhancement Act to modernize the tax code to help lower the cost of education for workers and help employers recruit and train a skilled workforce.
President Biden’s track record on the economy is abysmal. Spending trillions of taxpayer dollars on liberal nonsense plunged our economy into chaos, fueled 40-year-high inflation, and decimated American household wealth. His failed economic policies – which he has coined “Bidenomics” – have created uncertainty and headaches for our small businesses, forced families to dip into their savings to keep up with rising prices, and raised operating costs for our farmers.
Over the last two years, poor decision making in Washington has increased costs for our families, farmers, and small businesses. The average mortgage rate nationwide has nearly eclipsed 7% as the Federal Reserve continues its aggressive rate hikes, inflation remains at historic highs, and small business optimism has plummeted to a 10-year low.
Over the last three years, I’ve made 226 trips to farms, schools, businesses, police departments, workforce training centers, cooperatives, ethanol plants, and food pantries on my biannual 36 County Tour. At each stop, I have had meaningful conversations with Iowans about their policy priorities at the federal level and real discussions about how we can work together to deliver real results for our families, farmers, small businesses, and rural communities.
WASHINGTON, D.C. – Today, U.S. Rep. Randy Feenstra (R-Hull) – alongside Rep. Terri Sewell (D-AL) – introduced the Secure Family Futures Act to apply ordinary treatment of debt investments for certain insurance companies, which in turn, would help secure life insurance policies – at a lower cost – for American families.
Roughly three months after our country exceeded $32 trillion in debt, we have surpassed another grim milestone and broken another unfortunate record. Our national debt has officially eclipsed $33 trillion, which is now the highest debt burden in American history. To put this figure into perspective, every single American – all 340 million of us – shoulders nearly $100,000 of this debt.
WASHINGTON, D.C. – This summer, U.S. Rep. Randy Feenstra (R-Hull) helped introduce the Main Street Tax Certainty Act, which would permanently allow Iowa small businesses to deduct 20% of their qualified business income from their federal taxes. Feenstra is an original cosponsor.