Cape News

House Republicans have recently brought attention to what they refer to as the "Bidenomics disaster," criticizing President Biden's economic policies and their impact on American families. According to a Republican representative, the cost of living has significantly increased under Biden's administration, with prices up almost 20 percent since he took office. Mortgage payments have surged, and real wages are lower than when Biden was inaugurated.

In a recent committee meeting, Treasury Secretary Janet Yellen was pressed to defend the administration's economic decisions, with little satisfactory answers provided on how the policies would benefit Americans. The representative raised concerns about how the wealthy and well-connected are benefiting from the Biden Administration's spending, particularly in relation to the Green New Deal and the allocation of taxpayer dollars to Chinese companies.

House Republicans emphasized their efforts to promote economic growth that supports the working class, small businesses, and farmers. They are working to prevent a proposed $7 trillion tax increase, implement trade policies that benefit American farmers, and address issues related to Chinese imports. Additionally, they are utilizing trade programs to shift supply chains away from China and protect American businesses from global tax implications.

The Republicans' stance reflects a contrast to the current administration's economic approach, with a focus on retaining tax sovereignty, supporting local businesses, and safeguarding American jobs and wages.