Matthew Dickerson, director of The Heritage Foundation’s Hermann Center for the Federal Budget, testified Thursday before the House Committee on Financial Services at a hearing titled, “A Strong Foundation: How Housing is the Key to Building Back a Better America.” Government intervention historically relies on the force of the unelected bureaucracy to pick winners and losers, while unfairly empowering special interests, compounding the problems that already exist.
Dickerson has spent years working on budget, appropriations, entitlement reform, and tax policy, and offered insight on challenges and barriers to growth that the “Build Back Better Act” will create for workers and the American economy.
“The affordability of housing depends on basic economic factors, including an ample supply of available housing as well as a growing economy where people can enjoy the fruits of their labor. So, it is important that we consider housing in the context of economic policy.
“Congress is currently considering a massive tax and spending package meant to “transform the American economy” and expand government control over the most personal aspects of peoples’ lives…It would put more of the economy’s resources under the control of politicians and bureaucrats, rather than the people…And this will only exacerbate the challenges families and communities are facing as we struggle to emerge from the pandemic.
“Americans have been feeling the tax of price increases…Pumping even more additional cash into the economy could fuel a dramatic surge of price inflation…Consumers are seeing shelves bare of goods. While the White House warns that Christmas may be interrupted, some basic goods are even disappearing from store shelves. Factories have seen work slowdowns or shortages due to interruptions in the supply of vital components. Meanwhile, throughout the country, help wanted signs are posted in many shops and restaurants…The economy is facing significant challenges, and the Build Back Better Act threatens to make these worse.”
Dickerson recently released a report that examines the Biden administration’s efforts to expand the welfare state in a way that would hurt American families and undermine workers.
You can find the hearing in its entirety here. Dickerson’s testimony can be found at the 3:40:51 mark.