The expanded monthly child tax credit included in the $1.9 trillion stimulus bill will begin arriving in parents’ bank accounts on July 15, President Biden announced today.
“If President Biden is so convinced that tax cuts are the key to America’s recovery, why won’t he keep his predecessor’s tax cuts that fueled the greatest economy in history? The 2017 tax cuts created millions of jobs, cut unemployment to its lowest level in half-a-century and fueled the fastest wage growth in decades. Furthermore, the biggest beneficiaries of the 2017 tax cuts were the middle class. Instead, Biden is proposing the largest tax increase in history – one that will be particularly costly for small businesses than are hanging on by their fingernails because of the pandemic. Biden is turning into Jimmy Carter 2.0, with his tax-and-spend policies. JCN was the first to make the Carter-Biden analogy and it’s been picking up steam. It’s time for a course correction. If Biden succeeds in raising taxes, the consequences for all Americans – including the middle class – will be devastating.”
This month, the Washington Times published Mr. Ortiz’s op-ed, Biden’s tax hike would devastate small businesses. To read it, click here.
In March, RealClearPolitics published Mr. Ortiz’s op-ed, Biden’s Presidency Is the Modern Version of Jimmy Carter’s. To read it, click here.