President Biden’s plan to grow the American economy by growing the American middle class is delivering.
Yesterday morning, we learned that inflation – which has hit every major global economy in the wake of COVID-19 – has reached its lowest level since early 2021.
At the same time, unemployment has stayed below 4 percent for the longest consecutive period in more than 50 years.
Gas prices have also fallen.
This comes as President Biden leads an historic manufacturing resurgence that is insourcing jobs from overseas, as Medicare takes unprecedented steps to negotiate lower drug prices, energy costs decline, and as America is rebuilt thanks to the biggest infrastructure investment since Eisenhower.
Unfortunately, congressional Republicans’ main economic agenda item is very different: MAGA tax welfare for the richest Americans and giant corporations, at the expense of continuing to grow our economy by investing in America.
Just this week, the House GOP released a plan to add hundreds of billions of dollars in debt – if their corporate tax cuts are made permanent.
They have announced they would follow that legislation with an even bigger proposed MAGA windfall for the rich, which would heap another more than $2.5 trillion onto our debt.
That’s not what middle class families want.
Nor do they want the manufacturing jobs that just arrived from overseas sent back – as House Republicans have proposed. Or their Medicare and Social Security benefits cuts – as House Republicans stated they intend to do with their commission.
Andrew Bates is the White House Deputy Press Secretary and Senior Communications Adviser.
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