Ranking Member Blaine Luetkemeyer (R-MO) issued the following statement on the latest Consumer Price Index (CPI): “Main Street USA has been subject to incompetent leadership and failed policies. Under the Biden Administration, small business owners have faced numerous difficulties caused by reckless policy making and wasteful spending,” said Ranking Member Luetkemeyer. “Skyrocketing inflation has compounded the … Continue reading Luetkemeyer: Skyrocketing Inflation is Devastating Small Businesses
Category: Economy
Americans this year have faced the highest inflation rates in decades, making it harder for them to afford everyday goods and more expensive to raise their families. Prior research from Joint Economic Committee (JEC) Republicans has explored inflation costs by region, giving insight into how inflation varies across the country.[1] JEC Republicans’ Inflation Tracker will continue this work, … Continue reading Inflation Tracker: How Much Is Inflation Costing You?
U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) released the following statement after the Consumer Price Index (CPI) release showed inflation surged 7.9 percent year over year in February. “Inflation continues to hit highs not seen in 40 years. Unfortunately, the Administration’s reckless spending and misguided energy policies have led to broad-based price spikes, … Continue reading Crapo: High Inflation Continues to Break Records
Sen. Mike Lee (R-UT) introduced the SHIP IT Act this week to help ease the nations supply chain crisis and counter rising inflation by simplifying or suspending certain federal regulations on ports, ships, and trucks. Empty shelves and backlogged ports have wreaked havoc on American businesses and families. This bill focuses on streamlining the process to get … Continue reading Senator Lee Introduces Supply Chain Bill to Counter Inflation
U.S. Senate Banking Committee Ranking Member Pat Toomey (R-Pa.) is raising concerns over a new program the Export-Import Bank of the United States (EXIM) may soon launch to finance domestic manufacturing and domestic infrastructure, areas far outside EXIM’s statutory mandate. Although the bank has not published a comprehensive framework for this unprecedented program or subjected … Continue reading Toomey Raises Concerns Over EXIM Proposal for Taxpayer-Subsidized Domestic Manufacturing
With inflation reaching new record-setting heights in February, U.S. Senator John Boozman (R-AR), ranking member of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, is calling it a “national emergency” and urging the Biden administration to prioritize driving down costs. Boozman joined his Senate Republican colleagues at a press conference at the U.S. Capitol … Continue reading Ranking Member Boozman: Inflation is a “National Emergency”
New data released Thursday showed the annual inflation rate shot up 0.8% in February, with overall prices up 7.9% compared to last February. Americans now face real wage losses of 2.8%. The core rate (excluding energy and food) rose 0.5%, up 6.4% over the past year. Both overall inflation and core inflation are now at … Continue reading Economist: Rising Inflation Is Another Tax on Working Americans and Biden’s Policies Are to Blame
Inflation set yet another record in February as it rose 8% year over year. That’s the highest inflation we have seen since 1982. What’s even worse, Americans’ paychecks fell even further behind Joe Biden and Senate Democrats’ inflation. Wages declined 2.6% since last year when adjusted for Bidenflation. Inflation is getting so bad that the White House … Continue reading Bidenflation Sets Another Record
U.S. Senator Cynthia Lummis (R-WY) made the following comments about President Joe Biden’s executive order on digital assets: “It’s great to see the Biden administration’s growing interest in digital assets, and while I agree with the President’s desire to combat money laundering and defend America’s national security, I think his executive order misses the fact … Continue reading Lummis Responds to Biden Executive Order on Digital Assets
The White House is set to release an executive order regulating cryptocurrency. CEI Senior Fellow John Berlau expressed concerns about the order and the proper scope of government oversight over the crypto market. “To ensure both the economic well-being of American consumers, investors and entrepreneurs, any executive order or action must instruct agencies to follow, not exceed, … Continue reading CEI Warns Biden on Executive Order to Target Crypto for Regulation
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