Skyrocketing inflation and consumer costs are hurting President Joe Biden’s and Congressional Democrats’ hopes to pass another major spending bill through the reconciliation process.
The Department of Labor’s Bureau of Labor Statistics this week reported an 8.6% increase in wholesale prices over the past 12 months, the highest increase in years. The federal agency also said this week that the consumer price index, another key tracker of inflation, is rising at the fastest rate in decades.
“No one got everything they wanted, including me, but that’s what compromise is. That’s consensus. And that’s what I ran on.”
That was President Joe Biden on Oct. 28 unveiling his latest $1.75 trillion spending bill—watered down from $3.5 trillion after Sen. Joe Manchin (D-W.Va.) refused to budge on the topline number—that Congress is expected to vote on this week.
A provision in the most recent version of the Democrats’ spending proposal allocates $500 million for a privacy bureau within the Federal Trade Commission, with little guidance on how the money is to be spent.
The bill, known as the Build Back Better Act, appropriates $500 million for fiscal year 2022 to the Federal Trade Commission (FTC) to “create and operate a bureau” tasked with protecting data privacy.
The entire Democrat multi-trillion dollar socialist spending scam is bad for Americans, and bad for our economy. One particular provision that is especially terrible is their “IRS Surveillance” program, which would grant the government access to spy on nearly every Americans’ bank accounts. Their bill wants to use $80 billion of taxpayer funds to hire 85,000 more bureaucrats, nearly doubling the size of the IRS, to go through individuals’ personal banking information.
President Biden, and his colleagues in Congress, must have realized how unpopular this policy was with the American people, so they decided to make some “changes.” They created the impression they were raising the threshold in transactions individuals would need to hit before triggering the IRS to spy on their personal banking accounts.
Five members of Democratic Sen. Kyrsten Sinema’s Veterans Advisory Council resigned this week due to her ongoing opposition to several facets of her party’s $3.5 trillion social spending and climate change bill.
In a letter released publicly Thursday, the advisers criticized the Arizona senator for refusing to get completely behind President Biden’s multi-trillion dollar Build Back Better agenda. They also chastised her for consistently opposing the abolition of the filibuster, which would effectively allow Senate Democrats to pass measures without support from chamber Republicans.
Democrats’ $3.5 trillion spending package refers to mothers as both “pregnant” and “lactating” individuals on 11 separate occasions.
Though the spending package specifically mentions the word “mother” three times and the word “maternal” 50 times, the spending bill avoids gendered language and refers to “pregnant, lactating, and postpartum individuals” on 11 other occasions when discussing maternal health conditions or concerns.
One of the nation’s leading economic and business groups is warning that the $3.5 trillion spending bill before Congress is an “existential threat” to the nation’s economy.
The U.S. Chamber of Commerce has launched a six-figure television ad campaign targeting the proposed tax hikesin the measure that would be “taking more hard-earned money from small businesses and working families.”
House Democrats have unveiled a litany of new tax proposals to fund President Joe Biden’s $3.5 trillion federal spending bill, but a new report suggests the spending plan would shrink the economy.
The University of Pennsylvania’s business school, Penn Wharton, released a new budget model based on the Democrats’ plan that projects a major decrease in Gross Domestic Product (GDP) in the coming years if the plan were to pass.
Senators reached a bipartisan deal Tuesday on a $2.1 billion spending bill to fund the Capitol Police, National Guard, congressional security upgrades and resettlement of Afghans who risked their lives to help American troops.
The deal was brokered by Democratic Sen. Patrick Leahy of Vermont and Republican Sen. Richard Shelby of Alabama, the top members of the Senate Appropriations Committee. The two had been at odds for weeks over how big the bill should be, even as the Capitol Police and National Guard warned that they could run out of money in the coming weeks.