Usually, the federal government spends to help people through recessions. Now, “there will be far less attempt to cushion the effects,” said political economist Mark Blyth.
Supporters of an extension to the 2017 Tax Cuts and Jobs Act point to revenue collection numbers to say that they did. But those numbers may not tell the whole story.
Among economic themes, Vice President Kamala Harris highlighted the need to protect Social Security and Medicare, and a tax cut for middle-income households.