Republican lawmakers criticized Pres. Joe Biden about the disappointing job result on Friday that causes the slowdown in the country's economy.
Republicans Criticized Pres. Joe Biden About Job Result
In a recently published article in The Hill, Republican lawmakers criticized Pres. Joe Biden about the disappointing job reports presented on Friday. They argued that the huge spending and his plan to increase the taxes are already causing the economy to slow down.
In April, U.S. employers reported that around 266,000 jobs were added. However, this is far from what is expected. This problem could be a challenge for the Biden administration as he seeks to propose $4.1 trillion.
According to a recently published article in The New York Times, Biden planned to finance the massive spending by increasing the corporate tax to 28 percent and increasing the taxes of wealthy individuals.
Republicans Opposed the Weekly Unemployment Benefit
According to a published report in The Washington Post, the Republican lawmakers strongly argued that this would force people to rely on the weekly unemployment benefit and no longer return to their jobs since they receive weekly financial aids.
Republican Rep. Jodey Arrington said, "It is no coincidence that this news arrives just as the Democrats' big-government policies, like paying people more to stay home than to work, are beginning to take hold."
Republicans Plan to Block the Increase of Taxes
Biden's plan to increase wealthy individuals and companies' taxes is to fund his infrastructure bill. However, this will lead to millions of job losses as the country will not be a good place for investment.
Rep. Kevin Brady, the top Republican on the tax-writing House Ways and Means Committee, said in a statement, "This is a stunning economic setback and unequivocal proof that President Biden is sabotaging our jobs recovery with promises of higher taxes and regulation on local businesses that discourage hiring and drive jobs overseas."
Meanwhile, the right-leaning economic policy experts said that Biden's tax proposals might not be a big factor in April's job report. However, they also admitted that this could have an effect and issue in the long run.
Joel Griffith, a research fellow in financial regulations at the Heritage Foundation, said that Pres. Joe Biden talks about big increases in taxes for wealthy individuals and companies, making the country less competitive.
Biden Defended His Proposals
Furthermore, Pres. Joe Biden defended his proposals that include coronavirus relief law and infrastructure bill. He said on Friday that the jobs reports signify the importance of the bills from the Democrats.
Janet Yellen, the U.S. Treasury Secretary, also disputed the claims of the Republican lawmakers about the effect and impact of the weekly unemployment benefit. She said that some people are not yet ready to reenter the workforce due to the health risk of COVID-19.
Related Article: Experts See Tax Increase Proposed by Biden's Infrastructure Plan Not Beneficial
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