Sen. Tim Scott argues that Biden’s big spending plans are a ‘tax on every American family,’ as inflation soars
Sen. Tim Scott, R-S.C., warned that the Biden administration’s massive government spending is driving up inflation and causing prices of everyday items like food and gas to soar, saying extended unemployment benefits have stymied the labor market, making it harder to convince Americans to get back to work.
“The Biden’s administration’s approach to throwing tons and tons and tons into the marketplace has led to inflation. And inflation is a tax on every American family,” Scott told FOX Business Tuesday.
“Therefore, every American family is paying higher gas prices, milk is up, eggs are up. Your staples are up. That means the good that you think you’re doing by putting more cash into the economy is actually resulting in more inflation,” he said. “We’re slowing our own economic recovery because small businesses have said without question that they can’t find people to go back to work.”
According to the National Federation of Independent Business, 36% of small business owners are raising prices to fight inflation. And those owners have more jobs open than they can find the labor to fill.
Several Republican-run states have opted out of federal unemployment benefits in an effort to incentivize people to get back into the job market. Red states are focused on “opportunity and options in the workplace,” which will lead to a healthier, faster and sustained recovery, Scott said, while Democrat-run states are focused on government support and assistance, “which will not lead to a stronger economy.”
Meanwhile, President Biden has pitched two additional big spending plans, the American Jobs Plan and American Families Plan, which combined are projected to cost nearly $4 trillion. But unlike the rescue plan, the families plan isn’t eligible to be steamrolled through Congress without Republican support.
And while much of the infrastructure plan can be pushed through using the vehicle of reconciliation, Scott said some aspects will require compromise and Democrats should start by eliminating policy measures seen as irreconcilable with Republicans in order to drive the price tag down.
“The Green New Deal – the environmentally friendly infrastructure policies that force Americans to make decisions that they would not normally make – a lot of that we could do battle with,” Scott said.
“There is a bipartisan coalition supporting opportunity zones – it’s just not members of Congress,” Scott said.
Speaking on the first anniversary of George Floyd’s death, Scott, who’s led Republican negotiations on the George Floyd Justice in Policing Act in the Senate, said he was hopeful to get the federal police reform package passed by June. Biden had set the deadline for May 25.
“My prediction is June will be the month to remember. We will either get it done or we won’t. But I hope that we will see some success,” Scott said, explaining lawmakers met with police groups over the weekend. “I am hopeful that we are making meaningful progress in a reasonable time. And June will be the month to remember when we’re talking about what we did and not what we’re going to do.”
Scott explained that policies, such as opportunities zones, could not have prevented Floyd’s death.
“Hate in your heart is something that you can’t legislate against,” he said. “There’s not an antidote for all negative interactions between law enforcement and the community that I know of – but the closest thing I know of is opportunity and success. Those two seem to break the pipeline between early life and being a part of the criminal justice system.”