Americans everywhere are still struggling under record inflation. The March Consumer Price Index, a key inflation indicator, showed a five percent inflation rate, with overall food prices up 8.5 percent over March of last year. Since 2021, Americans’ wages have declined 3.7 percent, which partially explains why workforce participation rates are so low at 62.6 percent.This has a ripple effect across our economy, leaving hardworking families and small businesses in a difficult position. According to the National Federation of Independent Business’s Small Business Optimism Index, 43 percent of small business owners report having a hard time filling job openings, with overall optimism decreasing for the 15th consecutive month.
This should result in a change in direction from the Biden administration, but instead they are doubling down on their failed agenda. For example, the administration recently released their overdue spending plan for the Internal Revenue Service (IRS).
The plan unfortunately underscores the administration’s desire to increase audits instead of fully focusing on much-needed improvements to taxpayer services.
