Chairman Smith: President Biden's Agenda Is a Boon for China and a Bane for American Workers and Job Creators

Press Release

"Following last month's first quarter GDP report showing a dramatic slowdown in economic growth and the Federal Reserve's decision this week to yet again hike interest rates to combat inflation, the headline number of today's jobs report covers up the underlying data showing that job creation in February and March was far below what was originally reported. This is further evidence that President Biden's agenda continues to fail working families and Main Street businesses. While the Biden Administration is sending billions in taxpayer dollars to Chinese companies in the form of special interest "green' energy tax breaks to boost China's manufacturing base, he's proposing $1.8 trillion in tax hikes on American small businesses.

Anyone who has spent time listening to working Americans is not surprised by the state of the labor force. As the Ways and Means Committee travels to hear from small business owners and workers, it's clear that inflation, rising interest rates, and Washington paying workers to sit on the sidelines have forced Main Street to make tough choices. Some have even shut businesses for good. House Republicans are focused on helping small businesses expand, hire new workers, and win against their Chinese competitors. A key step in the right direction would be for Democrats to actually work with Republicans to address the debt ceiling, rein in spending, and enact policies that will lift more Americans out of poverty."

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