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I hope you saw my latest weekly column.



ROGER WICKER: Revived ‘Green New Deal’ Would Multiply Our Economic Pain
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President Biden’s tax-and-spend bill is regrettably back on the table. Last
December, the President’s plan seemed all but defeated when two Democrat
Senators, Joe Manchin and Kyrsten Sinema, joined all Republicans in opposing
the bill – with Senator Manchin declaring it “dead.” Yet today, Senator Manchin
is once again engaging Democrats on a plan to revive the Biden bill, even as
our economy suffers under the weight of Biden-caused inflation. If Democrats
pass this tax-and-spend proposal, we can expect even more inflation and
economic pain to come.

A Recipe for Recession

Details on the Democrat bill are still emerging, but Senator Manchin has
signaled his desire to roll back the Republican-passed tax cuts of 2017, which
led to massive economic growth. The West Virginia Senator wants to raise taxes
on job creators from 21 percent to 25 percent, making American companies less
globally competitive and hurting job creation. He also wants to expand IRS
audits on taxpayers, even as millions of Americans are still waiting for their
tax refunds. On spending, Democrats are seeking at least $300 billion in
taxpayer dollars for their climate agenda while doing nothing to address
soaring gas prices.

Given the economic pain we are all feeling, this tax-and-spend bill is an
insult to the American people that ignores our most pressing needs. The price
of gasoline has doubled under President Biden, with experts predicting we will
be paying $6 per gallon by August. Inflation is costing the average family an
extra $5,000 per year. Employers are still struggling to find workers. And
supply chain problems continue to result in empty shelves. Instead of
addressing these problems, Democrats are fixated on tax hikes and socialist
spending that would upend any hopes of a recovery. No wonder the President’s
approval rating is underwater and 83 percent of Americans rate him poorly on
the economy.


2017 Tax Cuts Created Jobs

It is now widely acknowledged that the President’s massive and unnecessary
“stimulus” bill last year sparked our current inflation crisis. The results
have been felt across our economy. More than 60 percent of small businesses now
fear that inflation will drive them out of business, and economic confidence
has reached its lowest level since 2009. Indeed, our economy shrank by 1.4
percent in the first quarter of this year, prompting fears of a recession. The
last thing we need now is a tax increase.

Despite the President’s missteps, the Republican tax cuts of 2017 remain our
biggest economic advantage. These policies, which I helped negotiate, unleashed
an economic boom that lasted up until the pandemic. In the first two years of
lower tax rates, business investment surged by 9.4 percent. Unemployment
dropped to 3.5 percent, the lowest in 50 years. Incomes grew, especially among
low-income earners and those without high school diplomas. On the whole, 90
percent of workers kept a larger share of their money.

We cannot afford to lose these highly successful tax cuts if we want a real
recovery. I hope Senator Manchin takes a step back from these Democrat talks
and remembers why he rejected the Biden tax-and-spend plan in the first place.
Republicans are committed to protecting tax relief as a bedrock of our
post-pandemic economy.



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Senator Roger Wicker






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