Biden is Breaking His Jobs and Tax Promises

Rep. Brady warns against higher taxes, more emergency spending on The Ben Shapiro Show, Bloomberg TV, and Fox News
July 2, 2021 — Blog    — In Case You Missed It...    — Press Releases    — Select Revenue Measures   

WASHINGTON D.C. – After President Biden fell nearly 700K short of his jobs promises for the second quarter, top Republican on the Ways and Means Committee Rep. Kevin Brady (R-TX) today appeared on Bloomberg TV, Fox News, and the Ben Shapiro Show to discuss Democrats’ sabotage of our economic recovery.

In a conversation with Bloomberg TV’s Joe Mathieu, Rep. Brady explained how President Biden is failing to meet his own jobs promises:

“Long term unemployment got worse. Unemployment for all minorities and those with less skills, got worse. The President right now, even with the June numbers is about 700,000 jobs short of what he promised at this point. […]

“Wages went up, which I think’s a good sign, but prices have been increasing faster than that every month this year.”

READ: Biden Boom? President Needs a Blockbuster Jobs Report to Fulfill His Promise

On Your World with Neil Cavuto, Rep. Brady argued that President Biden is already breaking his pledge not to raise taxes on those Americans making less than $400,000 a year, saying:

“The President is breaking that pledge, according to the liberal Tax Policy Center, Recently, their analysis shows that about 75 percent of middle class families will see a tax increase next year, that’s going to rise to nearly all middle class families. That’s just with President Biden’s crippling tax increases.”

READ: Liberals: Biden Breaking Tax Pledge

During his interview with Ben Shapiro, Rep. Brady also noted how wages have declined since President Biden took office:

“Every month he’s been president, inflation is growing faster than paychecks, so American families are actually falling behind. And we don’t have the workers we need. What we call the labor force participation rate – who’s back to work – is still stuck almost in the 1970s.

 “Our economy ought to be surging, but his anti-jobs, anti-growth, crippling tax increases agenda that’s slowing our economy down.” 

READ: Americans Brace for a Long, Hot Summer of Rapidly Increasing Costs

KEY TAKEAWAYS:

JOBS

  • President Biden is failing on his jobs promises from the $1.9 trillion American Rescue Plan “stimulus,” despite huge advantages he inherited, including vaccines, a reopening economy, and trillions in emergency spending.
  • President Biden needed to have 1.56 million jobs added in June to get back on track.

WAGES 

  • President Biden’s “stimulus” didn’t bring us jobs—it brought inflation.
  • Prices are rising twice as fast as paychecks – so American families are falling behind.
  • Real wages have declined since President Biden took office.

WORKERS

  • Labor force participation remains alarmingly low at 61.6 percent, well below the pre-COVID rate.
  • In order to show any meaningful progress, today’s report needed to show labor force participation rate closer to 63.3 percent.