Dear Friend,

Last week, the Bureau of Economic Analysis (BEA) announced a consecutive quarter of Gross Domestic Product (GDP) decline in 2022, which meets the definition of an economic recession. Consumer price inflation has hit a 12-month rate of 9.1%, the highest recorded rate in over 40 years. Despite falling slightly, gas prices remain high across the country compared to just one year ago. 

Across Mississippi’s Third Congressional District, I’ve spoken to people who are struggling under the economic crisis of the Biden Administration. They’re paying more for gas, groceries, and just about everything else. There is a simple solution, although it is unlikely under the current Administration. President Biden must admit his policies have completely failed and then work with Congress to reinstate the conservative economic principles that he has spent the last year and a half stripping away. Any other actions would only lead our country further into a recession — yet another crisis of this Administration that falls on the shoulders of hard-working Americans.

Instead of working with fiscally conservative Member of Congress to reduce costs for Americans, President Biden, Speaker Nancy Pelosi, and Leader Chuck Schumer have announced HIGHER TAXES during an economic downturn. In a legislative process referred to as budget reconciliation, Pelosi and Schumer are attempting to push through the so-called Inflation Reduction Act of 2022. This legislation would do little to reduce inflation, but it would raise taxes on hard-working Americans. 

By paying more taxes under the plan introduced by Democrats, the economy would see a reduction in inflation by only 0.33%. To add insult to injury, that reduction is expected to be spread out over a 10-year period and would not be fully realized until 2031. 

For this negligible decrease, the increased tax rates would hit every single American. Despite President Biden's pledge not to increase taxes on anyone making less than $400,000 per year, it's well known that higher taxes are felt across the entire economy. The Joint Committee on Taxation — a nonpartisan group that studies the impact of tax policies — has indicated that the increase in taxes would be felt by every income level, even those making less than $10,000 a year. Low and middle-income Americans would pay billions of dollars more in taxes next year if the legislation becomes law, according to their study.

It's for this reason that even the most left-leaning elected officials in the past have been against raising taxes during a recession. 

• In 2009, then-President Barrack Obama said, "You don’t raise taxes in a recession. The last thing you want to do is to raise taxes in the middle of a recession.”
• In 2008, Senator Chuck Schumer said, "If we’re in a recession and we’re in a difficult economic time, I don’t think Sen. Obama or anyone else is going to raise any taxes. You don’t want to take money out of the economy when the economy is shrinking."

Around 60% of Americans are living paycheck to paycheck right now. Raising taxes would only add to their economic burdens. I took a pledge to never raise taxes on the hardworking people of America. Not only will I never vote to increase taxes, but I will also continue to fight against this disastrous tax bill that Washington Democrats are disguising as the "Inflation Reduction Act." 

As Americans continue to struggle under the economy that was broken under the Left's leadership, I will continue to join with my Republican colleagues in fighting to see that you keep more of your hard-earned money and that we bring down inflation with proven, Reagan-style efforts such as cutting regulations and reducing taxes. 

If you found this newsletter interesting, please consider sharing with your friends and family and encourage them to subscribe to my newsletter by clicking on the button below.