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Press Release

FreedomWorks Response to Former Chair of the Federal Reserve’s Suggestion to Raise Taxes to Fix Deficit

WASHINGTON, D.C. -- In response to former Chairman of the Board of Governors of the Federal Reserve System, Janet Yellen’s recent comment, in which she said, “If I had a magic wand, I would raise taxes and cut retirement spending,” Adam Brandon, FreedomWorks President, commented:

“The budget deficit is a serious problem. Raising taxes, however, does little more than discourage investment in the economy and hurt productivity. Although there are policy decisions that have been made that will hold the economy back from larger economic growth, there's no denying that the Tax Cuts and Jobs Act and the administration's deregulatory agenda has bolstered the economy. We need to continue this approach while also getting a grasp on entitlement programs that are growing unchecked and will rob the next generation Americans of prosperity and opportunity.”


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