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Midterms: How do GOP and Democrats differ when it comes to fighting inflation?

The issue continues to be top of mind for most voters
Britain Economy
Posted at 3:00 AM, Sep 29, 2022
and last updated 2022-09-29 05:00:42-04

WATERTOWN, Wisc. — Inflation. With less than six weeks to go until the midterm election, it's likely a major factor impacting your vote.

So with control of Congress on the line, how do Republicans and Democrats differ regarding their plans to fight it?

TRIP TO THE FARM

To understand how inflation impacts Americans' lives, heading to a local farm in a key political state makes sense.

Meet Rebecca Boisvenue, a mother of nine who lives in Watertown, Wisconsin.

"When I grocery shop, I am cutting back on all the extras," Boisvenue tells our Joe St. George.

"When I first heard about inflation, I didn't expect to see it so dramatically," Boisvenue added.

Indeed, 40-year high inflation rates continue to dominate everything from politics to the grocery store.

Of course, larger families are feeling it even more with the cost of food.

That is why Boisvenue is out at Little Farmer Meats, a family farm in Watertown.

She usually buys an entire or half an animal to save money. She freezes the meat and then uses it throughout the year.

With inflation so high — it just makes sense.

"Paying the farmer you're paying a per pound price, it's just an amazing deal," Boisvenue said.

For instance, instead of spending $5 on a pound of ground beef at the grocery store, Boisvenue pays around $5 per pound for the entire animal.

It may be hundreds of dollars upfront, but for $5 dollars a pound, she gets roasts, filets, and T-bones. Not just ground beef.

Of course, Boisvenue can't do that with everything she buys, so inflation will be top of mind as she prepares to head to the polls this year.

"It's definitely going to play a big part in how we vote," Boisvenue said.

GOP v. DEMS

It's pretty clear right now that inflation is going to drive a lot of voters this midterm election.

So what is the difference in policies?

Republican leaders in the House recently announced their "Commitment to America" plan.

It calls for cutting taxes and regulations on businesses, believing that is one way prices can come down.

Republicans also want to limit government spending, with many Republicans placing blame on COVID funding, including stimulus checks, for creating inflation.

The Republican plan -- which would only become reality if they control Congress after the midterm election -- calls for increased oil and gas drilling in the U.S. as well — to lower the cost of fuel.

Democrats though have an entirely different vision.

Leaders have called for increased government spending by higher taxes on wealthier Americans.

The thinking is that if the government provides more benefits, the high costs can be more tolerable while the Federal Reserve takes action to fix inflation.

There are discussions about bringing back the expanded child tax credit, for instance, if Democrats can maintain or increase their majorities in Congress.

Campaign promises regarding cutting child care costs have also emerged.

NOT WAITING

Back on the farm, Kara Olson, the owner of Little Farmer Meets, says people aren't waiting for Washington.

"People are looking to save money," Olson said.

Her business, as well as others, is booming, and she advises Americans interested in saving money to reach out to their local farmer — she is booked with orders until spring.

As for this fall's election, Boisvenue believes moms like her will make the difference.

"We talk about what is going on," Boisvenue said.