Category: U.S. middle class

NTD Business (Nov. 2): Economist: US No Longer Has a Middle Class; Fed Signals More Rate Hikes Ahead

The Fed continues its fight against inflation—raising interest rates 75 basis points today. We talk with an American business to find out if the rate hikes are working. One of America’s big problems: a shrinking middle class. One top economist says America doesn’t even have a middle class anymore. A top Republican pushing back against President Biden….

Democrats Refusing to Ban Middle-Class Tax Hikes in New Spending Bill

Democrats rejected a Republican proposal to ban tax hikes for the middle class while passing its new Inflation Reduction Act spending bill on Aug. 7. U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) filed an amendment to prevent the Internal Revenue Service (IRS) from using the $80 billion in new funds allocated under the…