{"id":1038780,"date":"2024-08-09T17:03:39","date_gmt":"2024-08-09T21:03:39","guid":{"rendered":"https:\/\/democrats.org\/?p=1038780"},"modified":"2024-08-09T17:03:39","modified_gmt":"2024-08-09T21:03:39","slug":"on-the-chips-and-science-act-anniversary-trump-vance-ticket-wants-to-go-back-to-failed-maganomics-agenda","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/on-the-chips-and-science-act-anniversary-trump-vance-ticket-wants-to-go-back-to-failed-maganomics-agenda\/","title":{"rendered":"On the CHIPS and Science Act Anniversary, Trump-Vance Ticket Wants To Go Back To Failed MAGAnomics Agenda"},"content":{"rendered":"\n
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On the anniversary of President Joe Biden signing the CHIPS and Science Act into law, the Trump-Vance ticket is still running on a failed MAGAnomics agenda that would hurt working families. In response,<\/em> DNC Rapid Response Director Alex Floyd released the following statement: <\/em><\/strong><\/p>\n\n\n\n

\u201cThanks to President Joe Biden and Vice President Kamala Harris, the CHIPS and Science Act is making us a global leader in cutting-edge technology while  helping create thousands of good-paying jobs for the American people. But the Trump-Vance ticket is running to bring back the failures of Donald Trump\u2019s first term \u2014 offshored jobs, tax giveaways for the ultra-rich on the backs of working people, and a devastated economy. Voters know Trump and Vance\u2019s talk about good jobs for working families is just lip service \u2013 and when it comes to getting things done for the American people, it\u2019s Democrats who actually deliver.\u201d<\/p>\n\n\n\n

Donald Trump broke his promises to hardworking Americans: He rigged the economy for the ultra-rich, jobs were offshored, and he ballooned the deficit. <\/strong><\/p>\n\n\n\n

The Guardian<\/a>: \u201cDonald Trump\u2019s $1.5tn tax cuts have helped billionaires pay a lower rate than the working class for the first time in history.\u201d<\/strong><\/p>\n\n\n\n

CBS News<\/a>: \u201cTwo years after Trump tax cuts, middle-class Americans are falling behind\u201d<\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cThe Offshoring of U.S. Jobs Increased on Trump\u2019s Watch\u201d<\/strong><\/p>\n\n\n\n

Wall Street Journal<\/a>: \u201cPresident Trump\u2019s trade war against China didn\u2019t achieve the central objective of reversing a U.S. decline in manufacturing,<\/strong> economic data show, despite tariffs on hundreds of billions of dollars of Chinese goods to discourage imports.\u201d<\/p>\n\n\n\n

Detroit Free Press<\/a>: \u201cTrump, tweets couldn’t save U.S. auto jobs in 2017\u201d<\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cTrump promised \u2018America First\u2019 would keep jobs here. But the tax plan might push them overseas.\u201d<\/p>\n\n\n\n

Washington Post Analysis<\/a>: \u201cOne of President Donald Trump\u2019s lesser-known but profoundly damaging legacies will be the explosive rise in the national debt that occurred on his watch.<\/strong> The financial burden that he\u2019s inflicted on our government will wreak havoc for decades, saddling our kids and grandkids with debt. The national debt has risen by almost $7.8 trillion during Trump\u2019s time in office\u2026 The growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration.\u201d<\/p>\n\n\n\n

Politico<\/a>: \u201cThe nation\u2019s fiscal outlook looks ever bleaker, thanks in part to deficit spending during President Donald Trump\u2019s first term, Congress\u2019 nonpartisan budget scorekeeper projected Tuesday.\u201d<\/p>\n\n\n\n

CNN<\/a>: \u201cTrump told GM workers he could save their plant, but it\u2019s gone for good\u201d<\/strong><\/p>\n\n\n\n

\u201cThe President cast himself in 2016 as a savior for workers<\/strong>, taking the unusual tack of publicly pressuring corporations like Carrier into changing their plans for moving or changing production. But despite months of demands, Trump has been unable to get GM to keep jobs at Lordstown\u2026<\/strong><\/p>\n\n\n\n

\u201cManufacturing activity in September [of 2019] fell to its lowest point in a decade. The Rust Belt states of Wisconsin, Pennsylvania and Michigan, which Trump flipped, have all lost manufacturing jobs since June. Many of those jobs have moved overseas.\u201d<\/strong><\/p>\n\n\n\n

With a record like that, it\u2019s no wonder Trump left office with the worst jobs record in modern American history.<\/strong><\/p>\n\n\n\n

Fortune<\/a>: \u201cTrump to leave office with the worst jobs record since Herbert Hoover\u201d<\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cPresident Trump took office at the crest of the longest economic expansion in U.S. history. He leaves presiding over the worst labor market in modern U.S. history, as an already-sputtering economic recovery has turned negative.\u201d<\/p>\n\n\n\n

Bureau of Labor Statistics<\/a>: When Trump left office, there were over 170,000 fewer manufacturing jobs than when he started.<\/strong><\/p>\n\n\n\n

Now, Trump-Vance ticket has a Project 2025 agenda that includes giving handouts to the ultra-wealthy and big corporations (again) at the expense of working Americans and risks supercharged inflation.<\/strong><\/p>\n\n\n\n

Trump<\/a>: \u201cYou\u2019re all people that have a lot of money \u2026 You\u2019re rich as hell. \u2026 We\u2019re gonna give you tax cuts.\u201d<\/strong><\/p>\n\n\n\n

Vanity Fair<\/a>: \u201cDonald <\/strong>Trump <\/strong>Wants to Give His Favorite Corporations Another Giant Tax Cut in a Second Term: Report\u201d<\/p>\n\n\n\n

Vance<\/a>: \u201cI\u2019ve reviewed a lot of [Project 2025]. There are some good ideas in there.\u201d<\/strong><\/p>\n\n\n\n

Axios<\/a>: \u201cSixteen Nobel prize-winning economists are jumping into the presidential campaign with a stark warning: Former President Trump\u2019s plans would reignite inflation and cause lasting harm to the global economy if he wins in November.\u201d<\/strong><\/p>\n\n\n\n

Project 2025<\/a>: \u201cThe corporate income tax rate should be reduced to 18 percent.\u201d<\/p>\n\n\n\n

The Atlantic<\/a>: \u201cTrump\u2019s Plan to Supercharge Inflation\u201d<\/p>\n\n\n\n

Here<\/strong><\/a> are just some of the ways the Biden-Harris administration\u2019s CHIPS and Science Act<\/strong> <\/em><\/strong>is investing in America and strengthening our economy:<\/strong><\/p>\n\n\n\n