WASHINGTON – Today, Republican National Committee (RNC) Chairwoman Ronna McDaniel released the following statement on Biden’s remarks on Democrats’ plan to raise taxes during a recession:

“Joe Biden and Democrats want to raise taxes during a recession. Biden lied, denied, and deflected the blame for the skyrocketing prices and recession they created. Families can’t afford gas and groceries, but Biden and congressional Democrats want to raise taxes, waste more money, and make life increasingly difficult for those trying to just get by. Vote them out!”

Background:

• Today, the Bureau of Economic Analysis released new data indicating the U.S. economy shrank 0.9 percent in the second quarter of 2022, meeting his own economic advisers’ definition of a recession.
• With the economy also plummeting 1.6 percent in the previous quarter, today’s data now marks two consecutive quarters of negative economic growth.
• The widely accepted definition of a recession is two quarters of negative growth.
• The Biden administration not only downplayed predictions of a looming recession, but even tried to  redefine the word “recession.”
• Hardworking Americans know exactly who is to blame, with two-thirds of Americans disapproving of Biden’s handling of the economy. 
• June’s Producer Price Index rose by 11.3 percent since last year, a near-record high.
• June’s Consumer Price Index soared by 9.1 percent compared to last year,  exceeding economists’ expectations and reaching a new 40-year high.