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Economy

Trump Blasts Economy With Massive Tariffs As Job Growth Craters And Inflation Spikes

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Tags: Economy

This morning the July jobs report showed that the U.S. labor market slowed markedly in the second quarter of 2025, with only 106,000 total jobs added, an average of just 35,000 jobs per month over the last three months. Most job growth during this period came in two sectors, health care and social assistance, which were the target of major funding cuts by Republicans and…

Virginia The Only State In America Where The Unemployment Rate Rose In June, Per U.S. Bureau of Labor Statistics

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 The U.S. Bureau of Labor Statistics (BLS) today reported that the unemployment rate in Virginia rose again in June, to 3.5 percent. The BLS report notes that “Virginia had the only rate increase” in the month of June. This was the sixth consecutive increase in Virginia’s unemployment rate, the first time the Commonwealth’s unemployment has continuously risen over half a…

Wyden, Bennet, Beyer Reintroduce Bicameral Bill to Overhaul Unemployment Insurance

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Tags: Economy

Senate Finance Committee Ranking Member Ron Wyden, D-Ore., Senator Michael F. Bennet, D-Colo., and U.S. Representative Don Beyer, D-Va., today reintroduced legislation to update and expand unemployment insurance so the program better meets the needs of the modern workforce and is ready to respond should the economy go into a recession in the future. “There’s no question that our…

Beyer Floor Remarks Opposing H.R. 1

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Congressman Don Beyer (D-VA) this morning delivered the following remarkson H.R. 1, aka the One Big Ugly Bill Act, during debate on the measure:  “From the Gospel of Matthew: For I was hungry, and you gave me food.  I was thirsty, and you gave me drink.  I was a stranger, and you took me in. I was naked, and you clothed me.  I was sick, and you visited…

Beyer Statement On Fifth Straight Increase In Virginia’s Unemployment Rate

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Congressman Don Beyer (D-VA), who serves as the top House Democrat on the Congressional Joint Economic Committee, today expressed rising concern over Virginia’s economy, after monthly data from the Bureau of Labor Statistics (BLS) showed that the Commonwealth’s unemployment rate had risen for the fifth consecutive month. The increase brought Virginia’s unemployment rate to…

What They Are Saying About Trump & Republicans’ Tax Giveaway To The Wealthy

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Tags: Economy

Yesterday Senate Republicans unveiled their version of legislation to extend and expand the Trump tax cuts for the wealthy. While scores for their altered bill are still forthcoming, the changes from the House-passed version are unlikely to significantly alter that bill’s distributional effects, which would result in the largest transfer of wealth from working people to the rich from a…

Yale Budget Lab Finds Bottom 80% Of U.S. Households Lose Under Trump/Republican Agenda

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Tags: Economy

Last week during a hearing by the House Committee on Ways and Means, Secretary of Treasury Scott Bessent responded to questioning about deficit effects of H.R. 1 by Rep. Don Beyer (D-VA) by suggesting that the bill would be fully offset through revenue raised by tariffs imposed on other countries by President Trump [as Beyer pointed out, this claim did not account for interest…

Beyer Statement On U.S. Court of International Trade Ruling Striking Down Key Trump Tariffs

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Congressman Don Beyer (D-VA), who serves on the House Ways and Means Subcommittee on Trade and chairs the New Democrat Coalition’s Trade Task Force, issued the following statement on a ruling by the U.S. Court of International Trade vacating and permanently enjoining Donald Trump’s across-the-board tariffs on nearly every country in the world, including his “Liberation Day” tariffs and…

Beyer Floor Remarks On H.R. 1

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Congressman Don Beyer (D-VA) issued the following remarks this morning during the Ways and Means Committee’s portion of House floor debate on H.R. 1. Beyer’s remarks as delivered follow below, and video is available here: Mr. Speaker, our dearly departed friend and colleague Gerry Connolly used to say that “our job is to comfort the afflicted, and afflict the comfortable.” This bill…

Republicans Advance Bill That Hikes Taxes For Working People And Cuts Taxes For Billionaires

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Rep. Don Beyer (D-VA), who serves on the House Committee on Ways and Means and as the Senior Democrat on Congress’ Joint Economic Committee, voted against legislation offered by Republicans on the Ways and Means Committee that would cut taxes for the wealthy while doing little for regular people, and even raising taxes for many working Americans. Beyer said: “Democrats relentlessly…