Welcome to another edition of FT Now! After another week of important national and statewide news, let’s get right to business! First, a new U.S. Commerce Department report shows that red states lead the country in economic growth. Next up, Florida Gov. DeSantis announced he will ban ‘vaccine passports’ in his state by executive order. Finally, President Biden’s tax plan will actually hurt the middle class, despite his claims to the contrary. To close, we hope everything has a wonderful and blessed Easter!
Red states leading US economic growth: Commerce Department report
What Happened:
A new report from the U.S. Department of Commerce has revealed that red states are leading the country in economic growth. Utah, Texas, and South Dakota reported the highest GDP growth in the country in the fourth quarter of 2020.
Why You Should Care:
Eight of the top ten states for economic growth are Republican-led, while the states with the highest unemployment rates, Hawaii and California, have suffered with restrictions under Democrat leadership. Growth in red states is a positive sign that many businesses and individuals are bouncing back from the impacts of the COVID pandemic.
What Happens Next:
Hopefully this progress continues as more Republican governors continue to loosen COVID restrictions.
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DeSantis Vows To Issue Executive Order To Ban ‘Vaccine Passports’ In Florida
What Happened:
Florida Gov. Ron DeSantis vowed to ban COVID vaccine passports in his state, which would require individuals to show proof of vaccination in order to gain access to venues like movie theaters and sports stadiums.
Why You Should Care:
Gov. DeSantis pointed out that vaccine passports would limit an individual’s freedom to “participate in normal society” and present massive privacy issues.
What Happens Next:
While Florida will not use vaccine passports, New York has already implemented the system with its “Exelsior Pass.” It remains to be seen if more states will follow New York, but many Republicans have heavily criticized the idea in addition to Gov. DeSantis.
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Biden’s tax hikes are coming for the middle class
What Happened:
While President Biden repeatedly claimed that his tax plan would only impact individuals earning over $400,000, it will actually raise taxes on the middle class.
Why You Should Care:
According to the Tax Foundation, President Biden’s plan to increase the corporate tax rate would kill over 150,000 jobs and reduce after-tax income for the bottom quintile of workers. On the campaign trail, Biden also called for a registration tax on new firearms and changes to retirement accounts that would result in more middle class tax hikes.
What Happens Next:
As the White House plans even more spending packages that will cost trillions of dollars, more tax hikes will continue to hit the middle class.
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Did you know?
In 2021, there are TWO governor’s races: New Jersey and Virginia. Both governor’s mansions are currently held by Democrats, but this November, voters have a chance to turn them red. If you’re interested in becoming part of the growing movement to take back New Jersey and Virginia, consider joining the relevant Facebook groups and spread the word!
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