Trickle-Down Economics Has Failed

Floor Speech

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Ms. SCANLON. Madam Speaker, over the past 50 years, income inequality has exploded in our country.

For decades, trickle-down economics has guided our country's fiscal policy, selling the American people a bill of goods about how cutting taxes for big business and the wealthy would eventually benefit society at large.

Most Americans have experienced this policy failure firsthand. They have watched the rich and powerful accumulate wealth while the middle class shrinks and families struggle to stay afloat. Study after study has shown that instead of promoting jobs or growth, tax cuts for the rich have increased inequality.

It is time to reject the failed theory of trickle-down economics and finally give everyday Americans a fair shot.

The Build Back Better Act will provide one of the biggest middle- class tax cuts in history and invest in the American people to build a stronger, more inclusive economy.

The best part? It is paid for by making those at the top finally pay their fair share.

The system has been rigged against most Americans for far too long. We have a chance to fix it now. Let's get it done.

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