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While lawmakers have historically debated ways to tackle or reduce Americans in the face of high inflation, Democrat Republican Tim Ryan, who is running for the Senate in Ohio, says he is ignoring plans to cut taxes for the middle class.
Ryan, D-Ohio, said in an interview with PKB News Digital that while it is important to curb inflation and take other steps to address rising prices, what the government can do is reduce taxes on Americans.
“We need to make sure there’s no price increase. I think there are companies out there that are making money behind working people because they can. And I think we have to be very aggressive,” Ryan told PKB News Digital.
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“But I think the most important thing right now is a big, significant tax cut for working people,” Ryan added. Exploitation … the pain of inflation. “
Ryan’s comments came as gas prices hit record highs, inflation hovered near a 40-year high and the White House turned its attention to the issue. President Biden even published an op-ed in the Wall Street Journal on Tuesday.
Perhaps the most high-profile proposal Congressional Democrats are considering is a bill that would give the Federal Trade Commission more authority to crack down on inflation. Democrats, however, have talked about a number of other options, including the federal gas tax holiday, sending monthly gas checks to low- and middle-income Americans, and more.
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House Majority Leader Stanley Hoyer, D.M., has said in recent weeks that the House is looking at “four or five” possible policies on which a consensus can be reached.
But Ryan says he is not getting much support for his proposal. And a middle-class tax cut, Ryan said, would help Americans faster than any other concept being talked about.
“I was the lone soldier here on this issue. I think, you know, a lot of people are entering more complex areas here that … it will take time, they won’t have an immediate effect,” Ryan said.
The congressman also said that the debate over inflation is a “Washington thing where we’re just going to have a bunch of conversations that won’t really matter.”
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“They know how I feel. I’ve been very public about this,” Ryan said in response to a question about possible support for his proposal by the Democratic leadership. “They know my feelings about it and I hope we can get some support.”
Pelosi spokesman Henry Connelly told PKB News on Wednesday that “House Democrats have included significant tax cuts for working families in the House-passed version of the Build Back Better Act, including child tax credits and earned income tax credits.” Ryan voted in favor of the bill, which was later postponed in the Senate.
Some experts warn that tax cuts, student loan waivers and other policies to pay more for Americans to meet their day-to-day costs could actually be counterproductive in the fight against inflation. They say that the average family, with more money in hand, may be willing to pay higher prices for the same product, to feed the problem of tax reduction that was solved.
But Ryan says much of the inflation that Americans are tackling is not responsible for the excessive cash in the economy. He blamed Russia’s war on Ukraine and the supply chain issue. The congressman added that there were ways to mitigate the effects of inflation from his plan, and that it was wrong to let American workers go free.
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“The problem is food and gas. And it’s going up and down,” Ryan said. “It’s a lot of supply chains, a lot of war. And I don’t think we can look into the eyes of the working class and say … you’re the one sucking it up because of inflation. You get the price.”
Ryan added: “We can pay for it. We can ask the richest people to pay for it and try to get some money from the economy. But I don’t think working class people should be the victims. “
Any plan that comes out of the House, be it Ryan or anything else, can be a very difficult time to get through the 50-50 Senate. And the likelihood of something like this being done through Congress will continue to diminish as November draws to a close, and lawmakers will become more and more transformed into day-to-day campaign mode.