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Munich. According to the Ifo Institute in Munich, the Republicans’ seizure of the majority in the US House of Representatives could slow economic growth in the United States. Economic researchers said on Monday that this points to a historical analysis.
Accordingly, economic growth in years when the president had a majority in both houses averaged 4.2 percent annually. “Under divided governments, where Congress did not stand behind the president, it was only 2.6 percent annually,” says Niklas Butravki, a researcher at Ifo. The difference was especially large, 2.8 percentage points, when the majority in the House of Representatives is against the president, as is currently the case in the United States. The House of Representatives can independently legislate budget and tax legislation and has some oversight functions over the president.
The Senate cannot independently legislate budget and tax laws, but it has more oversight functions than the House of Representatives. “It will become clear how much these same historical patterns will repeat over the next couple of years,” Butravky says. The period from 1861 to 2021 was examined in the analysis.
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