WASHINGTON, D.C. – Today, Senator Rick Scott led his colleagues in a press conference demanding President Biden take immediate action to address the inflation crisis his tax-and-spend agenda has created, which is hurting working American families. Senator Scott was joined by Senators Ron Johnson, Thom Tillis, Tommy Tuberville, Marsha Blackburn, Roger Marshall, John Boozman and Dan Sullivan.
As the Biden administration continues to mislead the American public about how Washington’s reckless spending is leading to the rising prices of every day goods, Senator Scott has been calling on the president to take responsibility for his wasteful spending proposals and release a plan to curb the impacts of rising inflation on American families. See more HERE.
Senator Rick Scott said, “For years, I’ve been warning about the impact Washington’s reckless spending will have on American families – including the threat of inflation. Now, as the Biden administration lays out plans for $7.1 trillion in new spending less than four months after taking office, inflation is here. 83% of Americans are already tightening their budget due to inflation pressures. For a growing number of American families who are struggling to make ends meet, the Biden administration’s policies mean the price is wrong. Meanwhile, President Biden is totally silent about his inflation crisis. Our debt is out of control and now we’re seeing the consequences. Biden needs to show up and address his binge spending before even more families get hurt.”
Senator John Boozman said, “As the economy rebounds and the country reopens, the last thing we need is a massive tax hike on job creators. I am particularly concerned about the harmful impact the Biden administration’s proposed tax increases will have on our family farmers, ranchers and foresters. These tax code changes would have a devastating effect on rural America. Instead of working in a bipartisan manner to pursue strategies that will allow the economy to flourish, President Biden is intent on pushing policies that will send our economy backwards.”
Senator Ron Johnson said, “The gross amounts of spending didn’t just start this year, it was in reaction to Covid. Personal savings is up $2.5 trillion dollars year over year. We have so much pent up demand, our economy is already taking off from the Covid recession, but the problem we have is we can’t supply all the goods – all the services that the American population wants. That sets the conditions for runaway inflation. When you increase taxes, when businesses can’t get the commodities and manufacturers can’t get the component parts their manufacturing – that’s going to also harm our economy and potentially snuff out the recovery. Combine that with inflation, you’ve got stagflation.”
Senator Thom Tillis said, “We are currently facing an inflation crisis due to President Biden’s runaway spending, with increasing prices on basic goods like milk, bread and gas affecting low-come families the most. In 1978, I was 17 years-old and struggling to make ends meet, and I know first-hand what it feels like to fill-up your gas tank and hope you have enough money left to get by until your next paycheck. The Biden Administration needs to re-think their massive spending and tax-hike proposals that will only hurt low-income families. If prices continue to rise, we are going to put the American Dream out of reach for many.”