Democratic Party - Democratic National Committee

12/12/2024 | Press release | Distributed by Public on 12/12/2024 19:52

ICYMI: Democrats Underscore the Dangers of Trump’s Plans To Undo Years of Economic Growth Arrow

As Trump and MAGA Republicans threaten to undo the economic growth spurred by the Biden-Harris administration's legislative achievements, Democrats are emphasizing just how detrimental their agenda would be to working families.

Donald Trump and extreme Republicans are aiming to reverse years of historic progress at the expense of the American people. From repealing the Affordable Care Act to stripping provisions from landmark bills like the CHIPS Act and the Inflation Reduction Act, far-right Republicans will stop at nothing to hamstring the economy. After spending his first term in office lining the pockets of billionaires and big corporations, Trump has made it clear he plans to double down in his second term.

NBC News: White House warns Trump of consequences of undoing key parts of Biden's legacy

By: Sahil Kapur

  • The memo makes an economic and political case against undoing Biden-era laws that President-elect Donald Trump and other Republicans have put on the chopping block in major party-line legislation that they're eyeing for next year, most notably the clean energy and health care provisions in the Inflation Reduction Act.
  • "Depriving the American people of these benefits would be a gut-punch to our economic growth," the memo says, and it "would provoke a tidal wave of opposition from the American people."
  • During the campaign, Trump said, "We will rescind all unspent funds under the misnamed Inflation Reduction Act."
  • To that end, the White House memo noted that the clean energy funding under the Inflation Reduction Act - the GOP's top target for repeal - includes benefits for many House Republicans' districts and said it has helped fuel "America's long-sought manufacturing resurgence."
  • "That includes the creation of over 330,000 clean energy jobs - disproportionately in House districts represented by Republicans. Because of the Inflation Reduction Act, we've already saved more than 3.4 million Americans $8.4 million on clean energy upgrades to their homes, and more than 300,000 Americans have saved over $2 billion upfront on [electric vehicle] purchases," Bates wrote.
  • "We have also capped the price of insulin at $35, Medicare has already negotiated lower costs for 10 major drugs, and more Americans have health insurance than ever before."