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President Joe Biden’s “Bidenomics” spending spree is buying nothing but record debt, lower wages, and a weaker economy, and Democratic U.S. Rep. Chris Pappas (D-N.H.) keeps cosigning the charges, according to a new campaign out this week from Americans For Prosperity.

AFP, a libertarian-leaning grassroots activist organization, is launching an ad campaign in five states targeting Democrats who, like Pappas, are in more centrist districts but embraced Biden’s entire economic agenda, including trillions in post-COVID spending.

The 15-second streaming ad highlights the negative consequences of Biden’s Inflation Reduction Act, like the inflationary increase in prices for gas, groceries, and housing now faced by average Americans. According to AFP, it takes an extra $11,400 to afford the standard of living Americans had when Biden took office in January, 2021.

“Rep. Pappas has done nothing but rubber-stamp President Biden’s agenda. And it couldn’t be further from what Granite Staters expect of their elected leaders,” said Greg Moore, AFP-NH’s state director. “You can see the difference between the heavy hand of Bidenomics and the light-touch policies that have made New Hampshire the freest state in the nation with robust economic growth.

“Rep. Pappas needs to give up on Bidenomics and take a page from the New Hampshire Advantage,” Moore said.

AFP’s campaign, which will include the streaming ad as well as direct mail and door-to-door outreach, is a response to Biden’s reelection campaign Bidenomics Bus Tour. Despite polls showing nearly twice as many Americans believe Biden has hurt the economy (49 percent) than helped it (28 percent), the incumbent president has made “Bidenomics” a centerpiece of his campaign for a second term.

“No president’s had the run we’ve had in terms of creating jobs and bringing down inflation,” Biden claimed last week. “It was 9 percent when I came to office, 9 percent.”

(Biden’s claim is false. Inflation was actually 1.4 percent when Biden took office, though it soared to 9 percent in June, 2022.)

Not surprisingly, the candidates in the First Congressional District GOP primary aren’t fans of Biden’s economics.

“As a small business owner, I have felt the implications of President Biden’s painful inflation and Congressman Pappas’ reckless tax and spend agenda in Washington,” said Republican Russell Prescott. “As a former state senator who has balanced budgets and stopped a sales and income tax, I have the necessary experience of governing in a fiscally responsible way. Our campaign is uniquely positioned to hold Chris Pappas accountable for his out-of-control spending spree in Congress, and we look forward to doing so this November.”

Pappas is also a business owner — his family owns the Puritan Backroom restaurant in Manchester — a fact noted by GOP contender Chris Bright.

“Thanks to the disastrous Biden-Pappas economic agenda, New Hampshire families pay more for their mortgage, more for groceries, more for gas and even the chicken tenders at the Puritan Backroom cost over 30 percent more than they did before their reckless spending spree.

“It’s time for a dramatic change of direction that reins in overspending, puts our economy back on track and gets the cost of living under control.” 

And Hollie Noveletsky, another GOP candidate, said the spending pushed by Pappas and Biden adds up to fiscal pain for everyone else.

“As the owner of a small business that has been debt-free for over 30 years, I have to be fiscally responsible. If I wasn’t, my company would be bankrupt and my employees would lose their jobs,” Noveletsky said.

“Unfortunately, career politicians like Chris Pappas have blown out government spending which has been the main cause of inflation and higher costs. Those increased costs are putting the squeeze on middle-class families when they go to the grocery store. That real life impact will definitely impact the ballot box this November.”

Pappas voted for all of Biden’s major spending proposals, including the American Rescue Plan of 2021 ($1.9 trillion), the Infrastructure Investment and Jobs Act ($1 trillion) and the so-called Inflation Reduction Act ($1 trillion), which economists agree is not reducing inflation.

The spending has driven the U.S. federal debt to $35 trillion. In fiscal year 2022, the deficit was $1.38 trillion. The following year it was $1.7 trillion. This year, the budget deficit will total $1.5 trillion and grow to $2.6 trillion by 2034, with interest payments on the debt going from $659 billion in 2023 to more than $1.6 trillion by 2034.

“Interest on the national debt, already higher than federal spending on children or Medicaid, will exceed spending on defense next year, on its way to $1 trillion by 2026. This is no way to run a country,” said Maya MacGuineas, president of the Committee for a Responsible Federal Budget.

The debt is also cutting into income and wages for most Americans, according to the CBO. Over the next three decades, the national debt is expected to cut wages and income by at least $8,000 per person, though if more debt is added under Biden’s proposals, that could jump to as much as $141,000 in lost income over 30 years, according to the CBO.

MacGuineas said it’s past time for Congress to take responsibility before the debt crashes the economy.

“We can start by actually passing a budget and by establishing a bipartisan fiscal commission to tackle some of these issues. We need a real plan to put the national debt on a downward sustainable path before it’s too late,” MacGuineas said.

Pappas declined to respond to requests for comment.

House GOP members say their new plan to cut taxes will help Granite State families thrive. Democrats denounced the tax cut plan as a $350 million corporate giveaway.

Familiar battle lines were drawn in Concord on Tuesday when Rep. Joe Sweeney (R-Salem) presented the GOP’s Consumer Tax Relief Act to the House Ways and Means Committee, calling it a “beacon of hope” for New Hampshire’s struggling businesses and communities.

“(This is) a crucial piece of legislation that not only reflects our commitment to fiscal responsibility but also addresses the pressing needs of Granite Staters in these challenging economic times,” Sweeney said. “Month after month, Granite Staters are grappling with the rising expenses that are stretching their budgets to the breaking point. In these times, when factors beyond our control are making life harder for our people, it is imperative that we take decisive action to provide relief where we can. One of the most effective ways we can do this is by cutting taxes here in New Hampshire, and that is precisely what the Consumer Tax Relief Act aims to achieve.”

The bill reduces the Business Profits Tax rate by 0.1 percent a year from 7.5 percent to 7 percent by 2030. It takes a similar approach to the Business Enterprise Tax rate, lowering it from 0.55 percent to 0.35 percent over the same period. It also cuts the Meals and Rooms Tax rate from 8.5 percent to 6.0 percent by Fiscal Year 2027.

And the proposal would also phase out the Communications Services Tax Granite Staters pay on their “two-way communication services” (wireless services and cellphones), which are currently taxed at seven percent. Under Sweeney’s proposal, the tax would be reduced over time and eventually eliminated by 2027.

House Democrats released a statement Tuesday claiming the tax cuts only benefit “multinational corporations” and would lead to defunding critical services like the Department of Safety, the Veterans Homes, Child Protective Services, and Community Colleges. 

Rep. Susan Almy (D-Lebanon) pushed Sweeney about the economic impacts, saying the tax cuts would be a disaster for state government agencies that rely on the funding.

“Do you understand what this does to the state government, which is suffering from the same inflation everybody else is?” Almy said.

The tax cuts would have a net positive impact for everyone, Sweeney countered. Cutting the business taxes would lead to more business investment and economic growth. Eliminating the Community Services Tax and cutting the Rooms and Meals tax will make New Hampshire more competitive with Massachusetts and foster more economic activity. Overall, the cuts will help generate more tax revenue for the state by boosting economic activity, he said.

“We’ve seen successful tax cuts in New Hampshire increase revenues,” Sweeney said.

New Hampshire’s GOP-controlled legislature already cut business taxes, and it is in the process of phasing out the state’s last remaining income tax — a tax on interest and dividends income. Sen. Dan Innis (R-Bradford), who led the charge to end the interest and dividends tax, wants caution exercised with any tax cut proposals.

“We have to be careful this year with what we want to do,” Innis said.

New Hampshire’s generally strong economy is showing some soft spots, Innis warned. Revenue may not be where it was a few years ago and there are early signs that could be trouble. For example, the real estate transfer tax might be lower than in previous years due to the restrictive housing market, he said.

New Hampshire weathered the economic turbulence created by the COVID pandemic, coming through with higher than anticipated revenues and a healthy rainy day fund, Innis said. Voters expect Republicans to be responsible with their money.

“I support cutting taxes where possible, but it’s a balancing act,” Innis said.

Sometimes, that means returning taxpayer money to help spur economic activity, and sometimes, that is deferring spending on big-ticket projects, Innis said. A $40 million proposal for municipal roads and bridges may need to wait, he said, especially after the state provided funding in the last session.

“We want to provide that support if we can,” he said.