Washington, D.C. – On Friday, Americans woke up to the news of yet another disappointing jobs report in the middle of the holiday season. It is another reflection of the weak economic recovery and damage being done to middle-class workers who are already suffering from rising costs due to inflation.
Unfortunately, if people are looking to Washington to improve our economic lot, their hopes are misplaced. Joe Biden and Senate Democrats’ Build Back Broke agenda is poised to make economic life worse for hard-working Americans.
Breaking a promise, which he has made over and over again, Joe Biden’s plan will indeed raise taxes on Americans making under $400,000 a year. In fact, according to a study by the Tax Policy Center, his plan would raise taxes on 30% of the middle class. These taxes would continue to rise over time. In 6 years, over half of families making between $75,000 and $100,000 would see their taxes go up by a combined total of more than $3 billion. Additionally, it is estimated that 66.3% of Biden’s proposed corporate rate hike would be borne by lower- and middle-class Americans.
In short: In the midst of historically bad inflation and economic malaise, Joe Biden and Senate Democrats want to raise taxes on those being hurt the most by their poor economic policies.
Vulnerable Democrats like Maggie Hassan, Raphael Warnock, Mark Kelly, Catherine Cortez Masto, and Michael Bennet have already made clear where they stand: they’re 100% on board with Joe Biden’s war against the middle class.
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