Sen. Chuck Grassley stopped in Osceola May 6 to tour SIMCO. While there he took questions from employees and met other business leaders. Questions were asked regarding inflation, employment and Grassley’s plans for running again.
“As of about March it’s been positive every month... We’re up to 58-62% and that index indicates a very strong manufacturing index,” said Grassley. When the activity index is above 50% it’s positive.
After President Biden’s 100 Day Plan for the economy Grassley had the republican response.
“We feel that the 2017 tax bill has been so positive for the economy that the bottom line it we should not change anything in the 2017 tax bill and he [Biden] would like to change a lot of that,” said Grassley. “When you have a tax bill that by the time the pandemic hits you’ve had the best economy in 50 years, the lowest unemployment in 50 years, the lowest unemployment among minority groups like blacks, hispanics and asian Americans lower than it’d ever been before, the lowest poverty rate since we’ve been keeping track of poverty and the most women employed in the history of our country that when you have that sort action as a result of the tax bill it should not be affected. Otherwise we’re going to kill the goose that laid the golden egg and the goose is the 2017 tax bill.”
“We think it’s irresponsible when you have a growing economy like we have right now as a result of the pandemic turning around at about 6.5-7% percent growth this year, that’s the best since 1984. All of this $6 Trillion that he wants to spend in the first 100 days is going to feed the fires of inflation and we’re going to have hyper inflation,” said Grassley.