AFP Critical of Lee and Rosen for Supporting IRA

Americans For Prosperity (AFP) has launched a new campaign targeting Representative Susie Lee and Senator Jackie Rosen, accusing them of endorsing “Bidenomics” and attributing high inflation rates to their support for the Inflation Reduction Act.

The $740 billion Inflation Reduction Act, championed by Lee and Rosen and passed by both chambers in August 2022, has come under fire for its alleged failure to alleviate inflationary pressures. Despite warnings from 230 economists that the bill would not effectively address inflation and could exacerbate the issue, Democrats proceeded with its passage.

A non-partisan analysis by the Joint Committee on Taxation predicted that working families would be worse under the legislation. Unfortunately, this prediction has materialized, with Nevada households experiencing tripling household expenses over two years.

In March 2024, Nevada’s inflation rate surged to a staggering 21.6 percent, resulting in an additional $27,782 per year in basic household expenses for Nevadans compared to January 2021 prices. Governor Joe Lombardo condemned the Biden administration’s handling of inflation, urging them to rein in federal spending to prevent further economic turmoil. Lombardo warned that excessive government expenditure could lead to irreversible damage to Nevada’s economy and beyond.

Before the passage of the Inflation Reduction Act, Democrats signaled their intention to raise additional taxes on individuals and businesses if they gained control of Congress after the midterms. With interest payments on the national debt consuming nearly 40 percent of individual personal income taxes, further tax hikes became necessary to fund government spending.

Biden’s proposed five trillion dollars in additional taxes, aimed at the middle class rather than the wealthy, has sparked controversy. Meanwhile, wages have stagnated or decreased since Biden took office, exacerbating financial strain for many Americans.

According to Statista, the median hourly wage in the U.S. decreased from $18.12 in 2022 to $16.75 in 1979 when adjusted for inflation. As a result, Americans now require an additional $11,400 to cover basic expenses, with over 60 percent living paycheck to paycheck.