Biden Inflation

Floor Speech

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Mr. THOMPSON of Pennsylvania. Mr. Speaker, I rise to address the hidden tax that is plaguing hardworking Americans. This hidden tax is inflation.

Under President Biden, we have seen the largest spike in 13 years, with consumer prices surging 5 percent in May. Core inflation rose at its fastest pace since 1992.

American families are being forced to pay more for the products that they need. Gasoline is 56.2 percent more expensive today than 12 months ago. Transportation services have increased 11.2 percent. Together, food and energy prices have increased 3.8 percent. Even used cars and truck prices have increased 29.7 percent.

Yet, Democrats rammed through a trillion-dollar package that is crushing small businesses and hurting hardworking American families by incentivizing Americans to stay at home and not get back to work. We are currently down 7.6 million jobs from our pre-pandemic levels. Our inflation is rising because of President Biden's far-left tax-and-spend proposals.

Americans cannot afford the Biden inflation tax. We know wasteful government spending will not solve this crisis, no matter how many times President Biden and the Democrats propose it.

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