After the Bureau of Labor Statistics released its May Consumer Price Index reporting consumer prices are 8.6 percent higher than the year previous, worse than expectations, the largest increase since December 1981, and showing real wages have dropped nearly four percent since President Biden took office. Ways and Means Republican Leader Rep. Kevin Brady (R-TX) issued the following statement:
“With real wages falling at their fastest pace in 40 years and inflation accelerating, Build Back Better in any form – which will fuel even higher prices – should be dead in the Senate.
“With the typical family now having to spend about $450 per month more to buy the same goods and services they did a year ago, life is harder for Americans in the Biden economy.
“Every plan President Biden offers is another partisan gimmick, another ploy for better press, or a distraction – and it’s getting worse every day.”