Economy
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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.
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.