After the Federal Reserve’s preferred measure of inflation remains near its highest annual increase in nearly 40 years – up 6.3 percent from the year previous – Ways and Means Republican Leader Rep. Kevin Brady (R-TX) issued the following statement:
“Our economy is shrinking, and so are Americans’ paychecks. Congress’s nonpartisan forecaster is even predicting inflation will continue into next year – so relief isn’t coming any time soon.
“Yet Democrats are still pushing $145 billion in tax hikes on energy that will raise record gas prices even higher, despite families being forced to cut back on other household spending in order to afford filling up their tanks.
“We can’t afford any more of the White House’s so-called solutions when they’ll just make things worse.”