‘Regulatory Relief, Sound Money, And A Competitive Tax System’: GOP Rep Offers Antidote To Biden Economic Plan

‘Regulatory Relief, Sound Money, And A Competitive Tax System’: GOP Rep Offers Antidote To Biden Economic Plan


Rep. Patrick McHenry (R-NC) diagnosed causes of the bottlenecks restricting America’s economic recovery, offering a cure rooted in unleashing the free market.

In an op-ed for CNBC, the lawmaker noted that inflation and unemployment are particular areas of concern:

Prices are rising and they are rising fast — unsound fiscal policy and government spending are contributing to these higher costs. Families are feeling it when they buy groceries, fill up their tank, or book a plane ticket to finally reunite with relatives after a year and a half in lockdown. Democrats say it’s transitory and prices will come down. Republicans say inflation is about to take root.

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Throughout the spring, jobs numbers fell short of predictions, setting off alarm bells that the recovery was lagging. The Biden administration seized on a better-than-expected June jobs report that showed 850,000 jobs had been added. But this statistic misses the larger picture. The labor force participation rate remained unchanged at 61.6%, the number of long-term

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