the staff of the Ridgewood blog
Ridgewood NJ, a new study conducted by Rice University economists John W. Diamond and George R. Zodrow for the National Association of Manufacturers says the Biden tax hikes could cost the economy 1 million jobs in just two years.
“[T]his study tells us quantitatively what manufacturers from coast to coast will tell you qualitatively: increasing the tax burden on companies in America means fewer American jobs. One million jobs would be lost in the first two years, to be exact.”
https://www.nam.org/wp-content/uploads/2021/04/TaxStudyOnePager.pdf
As noted above, the Biden tax hike is a giant job loser. Now signs are popping up everywhere that the momentum for President Biden’s “infrastructure”’/tax bill is slowing.
In the wake of Senator Joe Manchin’s firm defense of the filibuster, he announced he was willing to negotiate a less steep increase in the corporate tax rate —although he indicated he’s still focused on at least an uncompetitive 25 percent rate. Meanwhile, Speaker Nancy Pelosi announced that she would listen to demands from rank and file members of Congress that the package be smaller but insisted it can’t be “too small.”
McClatchy Newspapers reports that “in swing congressional districts, even some supporters of the proposal say the president and his allies may have some work to do to convince voters” that the package is worthwhile.
Future Majority, a Democratic policy and messaging group, polled 37 congressional battleground districts last month on Biden’s plan. It found his plan to raise the corporate tax rate to 28% had the support of just 35% of independents and 50% of voters overall in those districts.
Read more here: https://www.mcclatchydc.com/news/politics-government/white-house/article250494804.html#storylink=cpy
Nothing to see here.
Look … bad orange man… get him!