July 19, 2023

House Democrats Double Down on the Worst Aspects of Bidenomics

A new agenda released today by the New Democrat Coalition aims to "lower costs, fight inflation, and grow the middle class."

The only problem is that their agenda would do the opposite as it calls for doubling down on the worst aspects of Bidenomics. If enacted, it would lead to more reckless spending and grow the wasteful, woke, and bloated federal bureaucracy. 

The Details: 

Welfare over Jobs: The New Democrat Coalition’s plan calls for creating new workforce development and training programs “to get more workers into in-demand fields.”

Republicans agree that we should be helping Americans currently stuck on the sidelines move back into the workforce, but House Democrats’ legislative proposals don’t take concrete steps to reconnect Americans to work. Instead, they spend billions on government-run programs and subsidies that do not have any guardrails and don’t hold states accountable who use these funds. 
Costly Tax Credits over Family Security: Democrats want to extend the costly expanded Child Tax Credit from Biden’s inflation-fueling stimulus packages. While we agree it is important to help families when they are bringing a new child into the world, expanding this credit would add to the debt, increase inflation, and expand the welfare state without helping people reconnect with work.

Health Care Monopoly over Patients: New Democrats’ plan would institute a price cap on insulin. While this may sound good on paper, it is imposing more government coverage mandates. Health insurers would likely respond to this by shifting the costs to patients through higher premiums. Their agenda also doubles down on Biden’s Medicare drug price controls that stifle American competition and jeopardize the development of future cures and therapies--including generic insulin products that lower prices.

Green New Deal Socialism over American Energy Dominance: This agenda would finalize and implement the President’s costly energy regulations and promote dozens of  expensive “green” energy provisions. These policies provide billions in handouts to the wealthy to buy new electric vehicles while putting further restrictions on our energy producers. This will increase energy costs for families and have little impact on the environment.  

A Supercharged IRS over Main Street Businesses: Biden’s call for a radically supercharged IRS will target Main Street businesses and entrepreneurs. House Democrats want to fuel this expansion even further. 

While House Democrats try to double down on the failed economic policies of Bidenomics, House Republicans are focused on priorities that matter to the American people. We want to prohibit careless and harmful spending, promote opportunity over cradle to grave dependence, and eliminate the regulatory chokehold Washington has over our businesses.