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Saturday, September 21, 2024

Stefanik critiques economic impact on women under Biden-Harris administration

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U.S. Rep. Elise Stefanik, District 21 | Ballotpedia

U.S. Rep. Elise Stefanik, District 21 | Ballotpedia

RealClearPolitics: Numbers Don’t Lie: Women Thrived Under Trump, Suffered Under Harris

By Chairwoman Elise Stefanik

Of the numerous claims about Kamala Harris perpetuated by Democrats and their supporters in the mainstream media, one of the most significant is that a Kamala Harris presidency will deliver historic economic opportunities for working women. However, according to available data, numbers tell a different story. Kamala Harris and Joe Biden have been associated with significant economic challenges for women, whereas President Trump reportedly delivered substantial economic benefits.

During the Trump administration, median income for women increased annually, reaching its highest point in 2020. Real average weekly earnings rose by 8.2% under President Trump but decreased by 3.9% under Joe Biden and Kamala Harris. The unemployment rate for women overall and for black women specifically reached record lows during Trump's term. In 2019, the workforce participation gap between men and women narrowed to its smallest in history, with more women in the workforce than ever before.

This outcome was attributed to President Trump's pro-family economic agenda, which included doubling the child tax credit from $1,000 to $2,000 per child and expanding eligibility. Nearly 40 million families received an average benefit of $2,200 under his leadership, totaling approximately $88 billion in credits.

Trump also introduced the first-ever paid family leave tax credit for employees earning $72,000 or less and signed into law 12 weeks of paid parental leave for federal workers. Additionally, he approved the largest-ever increase in childcare and development block grants—expanding access to affordable childcare for over 800,000 low-income families—and allowed new parents to withdraw up to $5,000 from their retirement accounts without penalty when they give birth or adopt a child.

Under Joe Biden and Kamala Harris' administration, economic policies have reportedly had adverse effects on American women. Women are said to be disproportionately affected by inflation following Kamala Harris' tie-breaking vote for Biden’s “Inflation Reduction Act,” which critics argue exacerbated inflation through excessive climate spending.

Since Kamala Harris became vice president, prices have risen by 19.4%, making it increasingly difficult for women to provide for their families. Grocery bills have surged as well; many Americans are cutting back on essentials due to these increases. According to Congress’ Joint Economic Committee, families now need an additional $12,590 annually just to maintain their standard of living from three years ago.

Childcare costs have increased by 32% since 2019; nearly two-thirds of families now spend over 20% of their annual income on childcare. The price of disposable diapers has also risen by 32%, with almost half of all families struggling to afford them. A baby formula shortage in 2022 further strained resources as prices soared.

Women constitute a majority of voters in America; hence efforts are underway by some political factions to convince them that current conditions are favorable despite statistical evidence suggesting otherwise.

To my fellow women voters: Don’t be fooled.

Permalink: https://stefanik.house.gov/2024/8/icymi-realclearpolitics-numbers-don-t-lie-women-thrived-under-trump-suffered-under-harris

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