Today, the House is expected to vote on the $1.9 trillion stimulus bill the Senate passed last week. If the House approves the bill, it will go to President Biden for his signature.
“This is arguably the biggest boondoggle in American history,” said Alfredo Ortiz, President and CEO of the Job Creators Network (JCN). “In this legislation, only $625 billion will go for Covid relief, while the rest will fund left-wing programs, according to the Wall Street Journal. We are wasting over $1 trillion to jumpstart an economy that only needs one thing to thrive: the removal of government-imposed lockdowns in Blue States. A massive infusion of government spending increases the risk of inflation in the short-term and escalates the possibility of a debt crisis in the long-term. We are increasing the debt by $5,929 per American. When some Americans get a check for $1,400, they should remember that.
“Thanks to the Senate parliamentarian, this bill does not have a $15 minimum wage. However, every House Democrat and 42 Democratic Senators voted for a $15 minimum wage – which means the fight over the minimum wage isn’t over. Senator Joe Manchin is waffling on his support for the filibuster, which means that a future minimum wage bill might need only 51 votes for passage. JCN will continue to promote the Earned Income Tax Credit (EITC) as the common-sense alternative to a minimum wage hike. By expanding the EITC, we can supplement the wages of low-income workers through the tax code, instead of punishing small business owners through higher labor costs. The EITC is the bipartisan solution we need.”
Last week, JCN released a letter signed by over 700 small business leaders against the stimulus bill vs Pelosi’s 300 in support of it. To learn more, click here.