President Biden will deliver a major economic speech this week spotlighting fringe economic proposals championed by House Republicans — including a controversial bill to abolish the IRS and replace it with a 30% national sales tax.
President Biden will deliver a major economic speech this week spotlighting fringe economic proposals championed by House Republicans — including aWith a divided Congress, the political battle over the economy for the next two years will be more about perception than actual policies. Biden wants to build a narrative for his case by bludgeoning Republicans with their own words.
Even some Republicans see a vote on the Fair Tax Act as a potential vulnerability. "This is a political gift to Biden and the Democrats," leading tax reform advocate Grover NorquistPainting Republicans as extreme has been core to Democrats' strategy in the era of Donald Trump, and the party is eager to run the same playbook with the House GOP's newly empowered far-right flank.
He'll also accuse Republicans of wanting to gut entitlement programs like Social Security and Medicare, reprisingSome Republicans already recognize the third rail will be a potent Democratic attack in negotiations over the debt ceiling: "Under no circumstances should Republicans vote to cut a single penny from Medicare or Social Security," formerFor several weeks, officials have been mulling a set-aside speech on the economy before the State of the Union address next month.
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