According to recent nationwide polls, inflation and the state of the U.S. economy are just as significant as the border crisis and immigration policies in voters’ minds as they prepare for the upcoming November elections.
According to a March 2024 Voters Voice Poll conducted by The Center Square, inflation/price increases, illegal immigration, and the economy/jobs are the top three issues that are most concerning to likely voters. Among the respondents, 45% named inflation/price increases, while 44% identified illegal immigration, and 24% cited the economy/jobs. These issues are at the forefront of voters’ minds as they head to the polls.
The economy and cost reduction strategies are points of contention between the two U.S. Senate candidates in Nevada. Democratic incumbent U.S. Senator Jacky Rosen and Republican challenger Sam Brown have distinct approaches to address these issues.
Rosen aims to reduce expenses for middle-class households on essential items, including groceries, by enforcing stricter regulations on businesses.
As per her campaign website, she aims to prevent a further hike in grocery prices and advocates for reducing taxes for the middle class.
Rosen wrote a letter to President Joe Biden, expressing her disagreement with grocery store monopolies and the potential price strains they may cause.
Corporations are taking advantage of market consolidation and reduced competition by engaging in price manipulation, known as ‘shrinkflation’. This practice involves charging customers more money for less product. It is concerning that such mergers could impact grocery costs in Nevada. Therefore, the Federal Trade Commission (FTC) has been urged to block the Kroger-Albertsons grocery store mega merger, as it may result in higher prices for consumers.
As part of a larger taxpayer-funded investment in clean energy, Rosen lent her support to the Inflation Reduction Act of 2022, which amounted to $437 billion and resulted in the creation of tens of thousands of new jobs.
The Center Square’s request for comment was not responded to by Rosen’s campaign.
During a primary debate in May 2022, Brown pointed out that high government spending has been a major contributor to inflation. To address this issue, he proposed the elimination of several departments including Energy, Transportation, and Education, as part of a wider plan to eliminate redundant agencies across both state and federal levels. Brown firmly believes that taking such measures will help curb inflation and promote fiscal responsibility.
Brown’s campaign provided a statement to The Center Square, stating:
The federal government has a history of extravagant spending and mismanagement of resources, which taxpayers are well aware of. Unfortunately, under the leadership of Jacky Rosen and Joe Biden, the country’s debt has reached a staggering $34 trillion, resulting in an unprecedented surge in the cost of living. As a small business owner, I believe in scrutinizing every budget with the aim of reducing costs and increasing revenue. Nevada needs a leader who is committed to providing taxpayers with relief whenever possible and who is willing to stand up against bloated bureaucracy. A good starting point would be to eliminate wasteful spending within federal departments.
During a debate in May of 2022, Brown advocated for the Federal Reserve to increase interest rates by at least 2.5 points in order to address the issue of high inflation. As of May 2022, inflation had already reached 8.6%. Over the course of March 2022 to July 2023, the Federal Funds rate rose by five points. By June 2024, the inflation rate had decreased to 3.3%, which is closer to the Fed’s target rate of 2%.
Brown, during his conversation with The Washington Examiner, emphasized that reducing taxes can have a positive impact on the economy as a whole.
“My belief regarding tax and economics is that, although raising taxes can increase government revenue in theory and practice, the most effective way to increase revenue is by reducing taxes, regulations, and allowing the economy to thrive.”
