WASHINGTON, D.C. – Today, following the latest Producer Price Index release from the Bureau of Labor Statistics (BLS), Senator Rick Scott released the below statement demanding that President Biden and Congressional Democrats take immediate action to combat the impacts of rising inflation which disproportionately hurts small businesses and low and fixed-income families. Today’s BLS data shows clearly that American producers are charging more for their goods, thereby increasing the prices American families and small businesses will pay for everything from basic business supplies to groceries. According to the BLS, the final demand index moved up 4.2% for the 12 months ended in March, the largest advance since rising 4.5% for the 12 months ended September 2011.
Senator Rick Scott said, “For months I have been calling on President Biden, members of his administration and the Federal Reserve to face the facts and lay out a plan to fight inflation and its negative impacts on American families and small businesses. When inflation rises, the prices of every day goods, like groceries and essential business supplies, go up making it harder for folks to make ends meet. I grew up poor and watched my parents struggle to put food on the table. I know just how much a slight rise in prices can hurt a family because I saw it every day growing up.
“Biden's ignorance on inflation is not only wrong, it’s dangerous. The president's refusal to address this critical issue has a direct negative effect on Floridians and families across our nation, and hurts low and fixed-income Americans the most. It’s time for Biden to wake up from his liberal dream and realize that reckless spending has consequences, inflation is real and America’s debt crisis is growing. Inflation is rising and Americans deserve answers from Biden now.”
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:
- April 2, 2021: IN CASE YOU MISSED IT… Sen. Rick Scott in Washington Post: Where’s the anti-inflation plan, Mr. Powell?
- March 24, 2021: Sen. Rick Scott to Federal Reserve: What’s Your Plan to Address America’s Debt Crisis?
- March 17, 2021: Sen. Rick Scott: We’re Watching Federal Reserve & President Biden’s Response to Inflation
- March 4, 2021: Sen. Rick Scott to National Economic Council: What’s Biden’s Plan to Stop Inflation?
- February 23, 2021: Sen. Rick Scott: Fed Chairman Jay Powell Must Address Rising Inflation
- February 16, 2021: IN CASE YOU MISSED IT… Sen. Rick Scott in the Tampa Bay Times: America Can’t Keep Spending Without Consequence, We Must Address Our Debt Crisis Now
- February 11, 2021: Sen. Rick Scott to Colleagues: Inflation from Unsustainable Federal Debt Hurts American Families
- February 3, 2021: VIDEO RELEASE: Sen. Rick Scott: Congress Must Address Our National Debt and Rein in Spending
- January 26, 2021: Sen. Rick Scott: Congress Must Get Serious About America's Debt
- May 4, 2020: After coronavirus, for US to survive, we must tackle looming debt crisis: Sen. Rick Scott
- February 5, 2020: Sen. Rick Scott to Chairman Powell: Take Action to Roll Back Growing Size of Federal Reserve’s Balance Sheet
- August 1, 2019: Sen. Rick Scott: Debt will destroy our country, if we let it