Sen. Rick Scott Hosts Roundtable with Tampa Bay Businesses on Impact of Inflation and Supply Chain Crises

July 23, 2022

TAMPA, Fla. – Today, Senator Rick Scott hosted a roundtable with community and business leaders about the negative impacts of America’s raging inflation and supply chain crises on small businesses in Tampa Bay and across Florida. This year, according to the Bureau of Labor Statistics, the Tampa Bay area has consistently been ranked the city with the highest level of inflation nationwide.  


Senator Rick Scott said, “It should be easier than ever to be a business owner in America, but that is sadly not the case thanks to reckless spending and dysfunction in Washington. Families and businesses in Tampa know that all too well as they face some of the highest inflation in the nation. Joe Biden's raging inflation crisis has created a new tax on Florida families and business owners, and that tax is rising nearly every month. I know the challenges of running a small business and what it is like to have employees rely on you—and today, I heard directly from business owners and community leaders in Tampa about how tough things are for them right now. I appreciate everyone coming together to talk about solutions to these pressing issues, especially Ken Lawson. Ken has done a tremendous job fighting for Floridians, and I know businesses in the Uptown Chamber are in great hands under his leadership.


According to the PPI, the price of eggs is up 123% and milk is up 50%. Think about that if you’re a restaurant owner. Building materials are up 22.5%. That means builders and construction companies are seeing significantly higher costs. Since President Biden took office, Florida households are paying nearly $800 more every month, or more than $9,000 extra per year, for everyday goods like groceries and gas. These price hikes are devastating and we can't ignore them. In Washington, I’m doing everything I can to stop the reckless spending that is wasting Floridians’ tax dollars, fueling inflation and cutting regulations that raise the cost of doing business. Floridians deserve better and I won't stop fighting to lower prices.”


As someone who grew up poor in public housing and watched his parents struggle to make ends meet, Senator Rick Scott knows firsthand how devastating inflation can be on hardworking families. Senator Scott has been clear that the Biden administration needs to take responsibility for its reckless spending and develop a plan to curb the harmful impacts of rising inflation on American families. That’s why Senator Scott has introduced the Supply Chain Emergency Response Act, the Federal Debt Emergency Control Act , the Full Faith and Credit Act, to rein in Washington’s out-of-control spending and tackle our nation’s debt. Additionally, Senator Scott recently went to the Senate floor to pass his bill establishing a budgetary point of order that stops reckless, inflation-fueling spending. Senator Scott’s bill, which would not apply to funding for the Armed Forces, Social Security or Medicare, would halt any non-defense discretionary spending that increases the deficit over the ten-year budget window when the average annual CPI inflation is 3% or higher. Senate Democrats rejected his initial proposal, as well as his subsequent counter proposals to pin the point of order at 8% and 12% inflation.


Since being elected to the U.S. Senate, Senator Scott has repeatedly urged action to address America’s debt crisis and the harmful effects of inflation. Click HERE for a comprehensive list of his statements and actions on this urgent issue.