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Sheldon Whitehouse's Public Statements

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03/11/2024 Whitehouse Statement on the President’s FY 2025 Budget Proposal
11/01/2023 Whitehouse: IRS Cuts in Republicans' Israel Supplemental Would Increase Deficit
10/30/2023 Chairman Whitehouse's remarks, as prepared for delivery: Ranking Member Grassley and members of the Committee, in ten hearings so far this year, we've laid out serious risks climate change poses to the federal budget, to American families and businesses, and to the economy at large. Today's hearing will examine yet another threat posed by climate change: disruption of global supply chains, causing economic disruptions, product shortages, and higher prices for businesses and consumers--climate inflation. Our global economy relies on a network of interdependent supply chains. Its end products may be a simple soybean, or may--like this cellphone--comprise thousands of parts sourced from around the globe. Think of the interconnected systems that enable the production and distribution of a cellphone: the raw mineral extraction, the manufacturing of thousands of individual components, the assembly of those components into a single device, and the distribution of those devices worldwide. Supply chains support almost $20 trillion each year in global trade and are foundational to our everyday lives. Yet almost no one thought about them until the COVID-19 pandemic laid bare the fragilities in our system. Almost overnight, we saw how shocks can disrupt supply chains, triggering cascading effects both upstream and down. Just as the pandemic wreaked havoc throughout our supply chains, climate change is poised to do the same--only much more frequently. In fact, it has already begun. Already, we are seeing climate disruptions in the procurement of raw materials. At our hearing on climate change and the agricultural sector, there was bipartisan agreement that extreme weather is damaging crop yields and increasing food prices. Last year, Hurricane Ian devastated Florida's orange trees, driving up the cost of orange juice. Climate-fueled droughts and heatwaves made growing chicken feed more expensive, which contributed to higher egg prices. Drought and wildfires in Spain have cut olive oil production in half and catapulted prices to record highs. Hotter and drier climates are stunting cacao harvests and making cocoa--an essential ingredient in chocolate--more expensive than it has been in decades. The added costs of climate change now have a seat at kitchen tables around the world. Climate upheaval is also affecting supply of the critical minerals used in electronics. Extreme weather events threaten mining infrastructure, and it's estimated that 30 to 50 percent of the world's copper, gold, iron ore, and zinc are produced in areas that are now facing water shortages. Raw material scarcity, decreases in material quality, and higher raw material prices--all translate into harder-to-source components and higher prices for consumers. We're seeing similar climate-caused disruptions in manufacturing. In China last August, a record-breaking drought reduced hydropower production so much that factories lost power, crippling production of automobiles and electronics. In Puerto Rico in 2017, Hurricane Maria damaged or destroyed dozens of medical device factories. Outright destruction of manufacturing facilities is an immediate consequence of extreme weather, but heat stress or lack of water can also pause production. Most manufacturing facilities weren't built to endure the climate extremes and climate shifts we see today, and once-in-a-blue-moon disasters are now chronic. Transportation is experiencing similar climate-triggered disruptions. The Panama Canal is an essential link in our global supply chains. In 2022, more than 14,000 ships--$270 billion in cargo--passed through. But this year brought the worst drought in a century, and in August, water levels were too low for ships to pass. As a result, August wait times were four times what they were in June, with boats waiting as long as 21 days to pass. Things are still not back to normal. The drought persists, and daily transit limits are expected through the end of the year. The Mississippi River, which transports 60 percent of U.S. grain exports, is experiencing similar problems. For the last two years, extreme heat and drought have brought water levels dangerously low, limiting barge shipments and causing shipping costs to soar. Today, the cargo rate from St. Louis southward is almost 80 percent higher than the three-year average. CDP, one of the premier organizations quantifying the effects of climate change, has analyzed data from over 8,000 suppliers. They estimate that environmental risks in supply chains will cost companies $120 billion by 2026--costs companies will pass on to consumers in higher prices. As sea levels and temperatures rise and extreme weather becomes more frequent and more intense, the effects of climate change on supply chains will only get worse. Recently, the White House Council of Economic Advisors warned that climate change will make supply chain disruptions more common; that "as networks become more connected, and climate change worsens, the frequency and size of supply-chain-related disasters" will grow. More bottlenecks and backlogs. More delivery delays and empty shelves. Higher prices. Climate-driven disruption causing climate-driven inflation. Some of the economic threats we've warned of are crashes, that can hit suddenly and systemically--across the whole economy. Supply chain disruptions are more likely to cause local shocks, but nationally will erode buying power as prices rise. If you care about inflation, you'd better care about climate disruption.
10/20/2023 Whitehouse: Republicans' fixation on tax cuts for billionaires is driving up the national debt
10/17/2023 Proposed Cuts to IRS Enforcement Would Add $24 Billion to Deficit, CBO Finds
09/19/2023 Sen. Whitehouse Statement on House Republicans' Budget Resolution
03/27/2023 Murray, Shaheen, 36 Colleagues Write to Pentagon Underscoring National Security Imperative to Provide Abortion Leave for Service Members
02/15/2023 Chairman Whitehouse Statement on CBO Outlook
09/20/2022 Whitehouse Cheers Biden Speech Calling for Passage of the DISCLOSE Act
07/25/2022 Letter to Hon. Robert M. Califf, Commissioner of the FDA - Senator Baldwin Voices Support for FDA's Proposed "Life-Saving" Ban on Menthol Cigarettes and Flavored Cigars
06/30/2022 Whitehouse Welcomes Supreme Court Justice Ketanji Brown Jackson After Swearing-in Ceremony
06/21/2022 Rep Lieu And Senator Menendez Lead Bicameral Resolution Honoring Refugees
06/09/2022 NEWS: Sanders, Warren, and Colleagues Introduce Legislation to Expand Social Security by $2,400 a Year and Extend Solvency for 75 Years
05/24/2022 Klobuchar, Colleagues Introduce Legislation to Expand Access to Clean, Affordable Heating and Energy
05/12/2022 Baldwin, Warren, Schakowsky Introduce Bicameral Legislation to Crack Down on Corporate Price Gouging
05/02/2022 Whitehouse Statement on Reported Decision Overturning Roe V. Wade
04/07/2022 Whitehouse, Johnson, Blumenthal, Nadler, Quigley, Cicilline, Jones Introduce Legislation to Enforce Accountability, Transparency for Justices & Judges
04/07/2022 Whitehouse Cheers Confirmation of Ketanji Brown Jackson to the Supreme Court
03/31/2022 Whitehouse to Vote to Confirm Judge Ketanji Brown Jackson to Supreme Court
03/24/2022 Whitehouse Praises Ketanji Brown Jackson on Exemplary Performance in Confirmation Hearings
03/21/2022 Whitehouse: Long-awaited Draft Sec Climate Rule Does Not Go Far Enough in Requiring Disclosure of Material Information
03/17/2022 Whitehouse, Padilla Introduce Bill to Grant Student Loan Forgiveness to Frontline Health Workers
03/16/2022 Whitehouse Introduces Bills to Grant Student Loan Forgiveness to Frontline Health Workers and Teachers
03/15/2022 Senate Passes Whitehouse's Bipartisan Legislation to Make Daylight Saving Time Permanent
03/12/2022 As Americans Prepare to Spring Ahead, Whitehouse Renews Call to Make Daylight Saving Time Permanent
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