FreedomWorks Foundation Releases Issue Brief — Wage Subsidies: A Multi-Trillion Dollar Market Distortion That America Cannot Afford
WASHINGTON, D.C. — Today, FreedomWorks Foundation’s Steve Moore and Jason Pye published a new issue brief, Wage Subsidies: A Multi-Trillion Dollar Market Distortion That America Cannot Afford, outlining the many glaring issues that government wage subsidy proposals would present to our country’s recovery from COVID-19.
Steve Moore, Chair of the FreedomWorks Task Force on Economic Revival, commented:
“Government spending and debt is the new virus Washington needs to contain. A government wage subsidy is a new $2 trillion federal entitlement that will distort labor markets and help bankrupt the nation.”
Jason Pye, FreedomWorks’ Vice President of Legislative Affairs, commented:
“We’ve come to expect the sort of complete lack of economic understanding required to propose absurd policy as direct government wage subsidies from the left, but it is shocking and disappointing to see nearly identical proposals from some on the right.
“The federal government has done far too much market distorting in its response to COVID-19, and state governments have crippled economies as well. What the government needs to do now is get out of the way of the economy and its people, spending not one penny more and, instead, give a payroll tax holiday to encourage work and boost wages through the market.”