House Ways and Means Committee Chairman Jason Smith (MO-08) released the following statement after the June Consumer Price Index report showed prices continuing to increase at a high rate with core inflation increasing 4.8 percent year over year and the broader measure still substantially above the Federal Reserve’s target rate of 2 percent:
WASHINGTON, D.C. – House Ways and Means Chairman Jason Smith (MO-08) released the following statement following the release of the Personal Consumption Expenditure (PCE) index, the Federal Reserve’s preferred measure of inflation:
“We would not be in this inflation crisis if ...
WASHINGTON, D.C. – In a 6-3 decision the United States Supreme Court struck down President Biden’s student loan giveaway to higher income Americans on June 30, 2023. The executive order, announced by President Biden on August 24, 2022, bypassed Congress’s sole constitutional authority over ...
WASHINGTON, DC – As the Ways and Means Committee takes up the American Families and Jobs Act today to provide families and small businesses relief from Democrats’ inflation crisis, new data from the Consumer Price Index (CPI) shows prices have increased 15.5 percent since President Biden took his Oath of Office and Democrats began their massive spending spree. The need for ...
WASHINGTON, D.C. - In response to specific concerns raised by American workers, families, farmers, and small businesses during field hearings across the country, Ways and Means Committee members have introduced legislation to help struggling families, grow jobs, and support a stronger economy. Today, these solutions are being combined as part of a new ...
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 ...
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, ...
WASHINGTON, D.C. – Ways and Means Committee Chairman Jason Smith (MO-08) released the following statement after the Consumer Price Index showed inflation remaining at an over 30-year high of 4.9 percent and prices increasing 15.3 percent since President Biden took office:
Washington, D.C. – The federal government will be unable to meet its spending obligations – including Medicare and Social Security benefits – as soon as June because Treasury will have exhausted its “extraordinary measures,” according to
WASHINGTON, DC – Ways and Means Committee Chairman Jason Smith (MO-08) released the following statement after the Producer Price Index showed wholesale prices rising by 2.7 percent from the previous year, which get passed down to consumers in the form of higher prices at the checkout counter: