As April’s tax deadline rolls around, Americans are being slammed by another tax: record-high inflation. For millions of Americans, this inflation tax will be just as costly, if not more, than their income taxes. A recent study estimated that inflation, created by Joe Biden’s and Washington liberals’ unprecedented levels of spending, will cost the average American a minimum of $5,200 in 2022. 

With the backdrop of the highest inflation in 40 years, President Biden last week rolled out his nearly $6 trillion budget. The proposal includes the largest tax increase in history and is chalk full of the same disastrous, out-of-control spending policies that have led to unprecedented levels of inflation.  

Family and small business budgets have been stretched to their limits by these disastrous, liberal policies, and Americans cannot afford another socialist spending proposal. Rather than push the same failed agenda, President Biden would be wise to look at how conservative states have led the economic recovery by creating good-paying jobs, cutting taxes, and reducing the cost of living.

Sincerely,
 
Matt
Deputy Executive Director
State Government Leadership Foundation