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Report: Biden-Flation Delivers Steepest Pay Cut in 25 Years

More than half of American workers’ paychecks have fallen behind – the highest share of workers since 2011, the last time President Biden was in the White House.

These workers have seen their paychecks slashed by nearly nine percent – the steepest pay cut in 25 years, according to a new study from the Dallas Federal Reserve.

With Biden-Flation accelerating, it’s no wonder nearly three in four workers say their paychecks aren’t keeping up with rising prices. A new Bank of America survey also found that an overwhelming majority of workers are stressed about their finances.

KEY TAKEAWAYS:

President Biden is a Pay Cut President. 

  • More than half of workers’ paychecks have been slashed by nearly nine percent, the steepest pay cut in 25 years, according to analysis from the Dallas Fed.
  • Over two thirds of workers report their paychecks have been unable to keep up with rising prices. 

READ: GOP Tax Reform Helped Low-Income Families, But Their Gains Are Declining After Biden Stimulus

Workers Are Suffering in Biden’s Cruel Economy. 

  • With a majority of workers stressed about their finances amid rising prices, more than 20 percent report they’ve tapped into emergency savings to pay their bills, while another 20 percent report working extra hours. 
  • Minorities feel especially stressed, as only a third of Black workers report feeling financially well off – down from earlier this year – and only one in three Hispanic workers feeling financially well off.

READ: As Democrats’ Policies Cripple the Economy, Americans Struggle to Keep the Lights On

Republicans’ Commitment to America is a Stronger Economy.

  • From making the historic GOP tax cuts permanent, to rolling back burdensome federal regulations, Republicans are committed to creating a stronger economy for American workers.

WATCH: Brady: Locking in Lower Taxes is Exactly What America Needs Right Now

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