Brady: While Inflation Continues to Rage, Workers Get Hit With Another Paycut & Housing Prices Hit Record High
After the Bureau of Labor Statistics reported in its October Consumer Price Index (CPI) that inflation rose at 7.7 percent from the previous year, and real wages failed to rise 17 of the last 21 months, Ways and Means Republican Leader Rep. Kevin Brady (R-TX) issued the following statement:
“With persistent and high inflation for the foreseeable future, American workers saw yet another paycut in their real wages last month. Housing prices for the past year have hit the highest in history, making President Biden’s promises of affordable housing another bitter pill for Americans hoping to buy their starter home.
“What will President Biden do differently to change his cruel economy in which so many Americans are struggling? His answer is ‘nothing.’ What a shame.”