President Joe Biden hailed a 'significant milestone' as a key inflation gauge, favored by the Federal Reserve, showed further slowing of US price increases. Democrats, including Senator Whitehouse, highlighted record job creation and lower healthcare costs under the current administration. On the other hand, Senator Ricketts and several GOP members emphasized the positive impact of the Tax Cuts & Jobs Act, signed 6 years ago, on wages, income growth, and unemployment reduction. They called for extending key provisions of the Act. The debate also touched on the Affordable Housing Credit Improvement Act and its potential to support American economic development. The White House is optimistic about the economy as consumer sentiment rises due to cooling inflation. The Federal Reserve's preferred measure of prices declined in November, indicating easing inflation and potential lower interest rates in 2024. However, some Democrats criticized the GOP's tax law for adding trillions to the debt and benefiting the wealthy. The economy's strength and the need for interest rate cuts to benefit American families were also highlighted by Senator Heinrich and others.
We are delivering on our #CommitmentToAmerica - A Government That's Accountable. ✅Restored Congressional Oversight ✅Created a Select Committee to Stop Biden’s Weaponization of Government ✅Reopened the People’s House ✅Ended Proxy Voting
In February, I helped introduce the TCJA Permanency Act to make the Tax Cuts and Jobs Act permanent and deliver much-needed tax relief for #IA04 families, farmers, and small businesses. Americans deserve to keep more of their hard-earned paychecks. #ResultsForIowa #YearInReview
Annualized inflation over the last 6 months is below 2%. Between that and historic job growth, the economy is strong. But Americans aren’t getting enough of the benefit yet. We need interest rate cuts to really deliver the benefits of this economy to American families.
The Federal Reserve's go-to inflation index declined 0.1% in November, the first monthly drop in overall prices by this measure in over three years. @Courtenay_Brown reports https://t.co/yUlZxHw8Td
Americans gave our House Republican majority a mandate to hold the Biden administration accountable, and we’re delivering. https://t.co/zR5yaW2V5D
With our Inflation Reduction Act, Democrats are ushering in a more sustainable, secure, and prosperous future for America. And we’re leaving no community behind. https://t.co/ZidLVhi4z7
We are delivering on our #CommitmentToAmerica - An Economy That's Strong! https://t.co/5hQiL7qrm8
The Federal Reserve’s preferred measure of prices fell last month, another sign that inflation is easing and that consumers should expect to see lower interest rates in 2024. https://t.co/tx6bbzgZX2
We are delivering on our #CommitmentToAmerica - An Economy That's Strong. ✅Passed H.R. 1: Lower Energy Costs Act ✅Secured the Largest Deficit Reduction in History ✅Voted to Stop the selling of Our Emergency Oil Reserves to Communist China ✅Reformed Permitting Regulations for…
For some reason, House Republicans don't seem to be celebrating the 6-year anniversary of Trump's #GOPTaxScam today. Perhaps it's because their disastrous tax law added trillions to the debt while cutting taxes for the richest Americans and most profitable corporations?
House Republicans are delivering on our #CommitmentToAmerica! ✅An Economy That's Strong ✅A Nation That's Safe ✅A Future That's Built on Freedom ✅A Government That's Accountable https://t.co/rAuZPTCTQ5
A closely watched measure of inflation cooled in November, good news for the Federal Reserve as officials move toward the next phase in their fight against rapid price increases and a positive for the White House as voters see relief from rising costs. https://t.co/isP1cJTCxD
Trump's Tax Scam turns 6 today, so here's a reminder: Without the trillions Trump and Bush wasted on tax cuts for the wealthy, revenues would have kept up with spending indefinitely. Remember that next time the GOP says we need to cut food assistance or Social Security.
The Tax Cuts and Jobs Act was signed into law six years ago today, putting more money into hardworking American pockets & strengthening small businesses. Congress must pass the TCJA Permanency Act to preserve these tax cuts & counteract Biden’s disastrous economic policies.
Rising consumer sentiment is fueling hopes inside the White House that Americans will warm to President Biden’s economic leadership as inflation slowed https://t.co/tMikxJIVrO
6 years ago today, Donald Trump signed the #GOPTaxScam into law, adding $2 trillion to the debt and slashing taxes for the wealthy. The GOP isn't the party of "fiscal responsibility" — just the party of tax cuts for the wealthy and well-connected.
The Tax Cuts and Jobs Act grew our economy and supported our families. I look forward to working with @WaysandMeansGOP Chairman @RepJasonSmith to expand on the #TCJA, lower taxes for American families, keep our businesses competitive against China, and strengthen our economy. https://t.co/J4BXqbKAtZ
6 years later, the Tax Cuts and Jobs Act is still delivering for working families, small businesses & farmers. Wages grew faster for the bottom 10% compared to the top 10% and the economy a full percentage point larger. Congress must keep building on its success. https://t.co/YaRA1MLeE7
Six years ago President Trump signed the Tax Cuts and Jobs Act into law and even the liberal media has had to admit that TCJA benefitted the middle class. We need to rein in our spending and extend key TCJA provisions that boosted the economy. https://t.co/y8qfVqBB9c
Wages are up, gas prices are down and unemployment remains at record lows. Democrats will keep buildling a strong economy that works for everyone.
From the gas pump to the kitchen table, inflation is cooling — leaving hardworking Americans with more money in their pockets this holiday season. As always, @SenateDems are committed to lowering prices for working families all across the country.
It has been 6 years since the Tax Cuts & Jobs Act was enacted into the law. Wages & income grew nationwide. Unemployment dropped to record lows. Americans kept more of their hard-earned money. Pro-growth policies work, Bidenomics doesn’t.
I recently joined @RepLaHood to cosponsor his Affordable Housing Credit Improvement Act. By modernizing the Low-Income Housing Tax Credit, this bipartisan bill will help expand our housing supply and support American economic development! https://t.co/SaHzBybAX5
Reporter: You are seeing a huge jump in consumer sentiment. This is because people are feeling better about inflation, those cooling numbers and prices. The outlook on the economy is really good https://t.co/LKCm6dWrd4
Under @POTUS, Democrats are delivering. From record job creation to lower health care costs for seniors, we’re putting the American people first.
President Joe Biden hailed a "significant milestone" on Friday, as a key inflation gauge—favored by the Federal Reserve in its interest rate decision making—showed further slowing of US price increases. More 📉👇 https://t.co/pzzGC4DQuu