From: Terry OIson
The American Rescue Plan is a big win for the majority of people in Southern Minnesota. After 40 years of supply-side, “trickle-down economics,” President Biden and the Democratic majority have shifted to “bottoms up budgeting.” The fiscal firepower is being aimed at the middle and lower end of the socio-economic ladder. Most of the funds going out will go almost exclusively to those who need them most, the unemployed, middle and lower income families, women, small farmers and small business owners. These are the people who have been adversely and disproportionately affected by the pandemic.
The Republicans, all of whom voted to deny help, offered only what they have offered in the past. They want tax cuts for the wealthy, the same who got a big tax cut in 2017 that did very little for most of us. Sixty-five percent of the Republican tax cut benefits accrued to the top one percent. Since then unemployment has grown, 50 million Americans are facing food insecurity, 19 million are receiving unemployment or pandemic assistance and 8 million people have fallen into poverty at the fastest pace in modern history. Republican tax cuts would do nothing to address the economic ill of the pandemic.
The American Rescue Plan will trigger a surge in consumer spending, help small business owners and small farmers, lower the cost of health insurance premiums for many and help make the cost of raising a family more affordable. A big win for average Americans.
Thank you, President Biden and the Democrats. We need more of you in Congress.