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From denying inflation and claiming it was “temporary,” to passing the buck with “Putin’s Price Hike,” the White House and congressional Democrats are out of touch with the challenges Americans face. The typical family now has to spend $450 more per month to buy the same goods and services they did a year ago, prompting more Americans to rely on loans and credit cards to make ends meet, even as the Federal Reserve makes borrowing more expensive.

Chairman Smith: “Help Wanted” Signs in Store Windows Are Small Business’s Cry for Relief in Biden Economy

June 02, 2023 — Bidenflation

WASHINGTON, D.C. – Signs reading “Going Out of Business” may soon begin appearing up and down main streets across America, as small businesses are increasingly preparing for a recession. For more than two years, small businesses have faced multiple crises that have left them with fewer workers, smaller inventories, and less income, whether it is skyrocketing prices, ...

Chairman Smith: Inflation Report Reinforces Americans’ Demands to Cut Wasteful Spending

May 26, 2023 — Bidenflation

WASHINGTON, DC –Raising the debt ceiling must come with spending cuts to combat the inflation that continues to hurt working-class families. 60 percent of Americans want an increase in the debt ceiling to reduce Washington’s wasteful spending - exactly what House Republicans’ Limit, Save, Grow Act delivered.  As shown in the Personal Consumption Expenditure index release, ...

Chairman Smith: Americans Add Biden’s Inflation Crisis to Death and Taxes as Part of Life’s Certainties

April 12, 2023 — Bidenflation

WASHINGTON, DC – Americans will continue to suffer under President Biden’s inflation crisis, after the latest Consumer Price Index report showed inflation at 5.0 percent, an over 30 year high, and inflation rising 14.9 percentage points since Joe Biden became President.   Ways and Means Committee Chairman Jason Smith (MO-08) released the following ...

Chairman Smith: Biden’s Hidden Tax on All Americans Continues

March 31, 2023 — Bidenflation

WASHINGTON, DC – House Ways and Means Committee Chairman Jason Smith (MO-08) released the following statement on February’s personal consumption expenditures (PCE) report from the Bureau of Economic Analysis (BEA)--the Federal Reserve’s preferred measure of inflation–that shows prices remain 5 percent higher than one year ago:

Smith: Latest Inflation Report an Indictment of the Welfare for the Wealthy Spending Agenda in Biden’s 2024 Budget

March 14, 2023 — Bidenflation

WASHINGTON, D.C. – House Ways and Means Committee Chairman Jason Smith (MO-08) issued the following statement after the Consumer Price Index showed inflation rising 6.0 percent from the previous year -- matching a pre-pandemic high of 30 years -- with prices having risen 14.8 percent since the President took the oath of office: “President Biden can’t ...

Biden’s Inflation Crisis Continues to Hammer Working Families, Small Businesses

February 24, 2023 — Bidenflation

WASHINGTON, DC – House Ways and Means Committee Chairman Jason Smith (MO-08) issued the following statement after the Personal Consumption Expenditures index, the Federal Reserve’s preferred inflation measure, showed prices rose 5.4 percent over a year ago:   “America is firmly stuck in an ongoing inflation crisis caused by Washington ...