Economic Policy News

On Sunday, all 50 Senate Democrats voted in lockstep to push through the so-called Inflation Reduction Act, the Biden administration’s big government tax-and-spending bill that will unambiguously undermine America’s economic freedom. The deal between Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.Va., resuscitated key elements of President Joe Biden’s euphemistically named Build…

Against the backdrop of a contracting economy and falling real incomes, the House majority is trying to increase federal spending over the next decade by $1.7 trillion—imposing a cost burden of future taxes and inflation that would be equivalent to more than $13,000 per household. As a first step, the House’s Democratic majority has decided…

Congress is once again flirting with new “Buy American” legislation for defense programs. But underneath the patriotic cover of this legislation is an unexpected casualty: military readiness and capability. Buy American legislation can be traced back to 1933, when Congress passed the Buy American Act, requiring that government acquisitions be entirely produced in the United…

Everyday Americans are feeling the wallop on their wallets from unchecked inflation. From gas prices to food prices, the country is experiencing unprecedented levels of economic woes. But who is to blame for this disaster? “I think that there are two co-conspirators in this economic crime. And one is the Biden administration, for spending so…

A budget is more than just the sum of its revenues and outlays. It’s also a reflection of the values held by its drafters. Based on the budget proposed Thursday by the Republican Study Committee, the caucus of conservatives in the House of Representatives, its members value America. Here are 11 ways that the Republican…

As Americans watch their government leaders spend more and more, the average citizen is struggling to pay for food and gas. It seems that the Biden administration is more concerned with placating a base of radical leftists than crafting a federal budget designed to help everyday Americans. To Rep. Kevin Hern, R-Okla., the government needs…

The harmful effects of excessive government spending have become the most pressing issue for Americans due to the worst inflation surge in decades. Washington’s reckless choice to pump trillions of dollars into the economy is the reason we face more inflation than other top economies around the world. Yet, incredibly, Congress is still planning an…

Months behind schedule and as many Americans look forward to the holiday weekend, the Congressional Budget Office released its new federal budgetary and economic projections. The new CBO numbers portend of a future of bloated government, crushing federal debts, and mounting burdens forced onto American families. The dramatic differences between this update and the CBO’s…

Life should never be reduced to economics. Yet, in the wake of the leaked Supreme Court draft opinion that could overturn Roe v. Wade, abortion supporters have resorted to shocking claims that limiting abortions will hurt the economy. During a Senate Banking Committee hearing on May 10, Sen. Bob Menendez, D-N.J., asked Treasury Secretary Janet…

In an April 27 speech, “The Return of Geopolitics,” British Foreign Secretary Liz Truss made a compelling case for a reboot in the free world’s approach to tackling global aggressors, particularly in the context of Russia’s invasion of Ukraine. Truss pointed out that we “must be prepared for the long haul.” My vision is a…

The insane spending spree that Congress has gone on since the start of the pandemic is one of the central causes of today’s brutal inflation. While the Biden administration blames the war in Ukraine and “greedy” energy companies, the timing of the inflation spike is more closely linked to unnecessary stimulus bills passed after the…

History has a way of repeating itself. Or maybe it’s that people cling to defunct beliefs, stubbornly refusing to learn from experience. Such stubbornness is on display when pundits, legislators, and President Joe Biden blame inflation on corporate “greed.” The fix, they claim, is price controls. But such controls would only bring further economic calamity….

It’s regrettable that Washington is sending ambiguous signals to Taiwan on economic engagement. Taiwan, America’s longtime valued, like-minded, and willing partner, has voiced its strong desire to be a “full member” in the Indo-Pacific Economic Framework of the United States. But at a March 31 hearing, U.S. Trade Representative Katherine Tai declined to say whether…

President Joe Biden finally released his budget request for fiscal year 2023 on Monday, almost two months late. Unsurprisingly, the Biden budget is bloated with excessive spending, harmful taxes, more regulations, and control over Americans’ lives, along with damaging policy proposals. The budget matters because the power to tax and spend is the key to…

In his State of the Union address, President Joe Biden claimed he would be “the only president to ever cut the deficit by more than $1 trillion in a single year.” While this is technically true, he ignores the fact that the reduction in the deficit will be due to the decreased expenditures associated with…