Biden says inflation is his top domestic priority, vows to work to lower everyday costs while arguing GOP has no plan
“I know families all across America are hurting because of inflation,” Biden said Tuesday in a speech at the White House complex. “I want every American to know that I am taking inflation very seriously.”He outlined his latest plan to reduce the price pressures throughout the economy that have badly damaged his popularity. He also has tried to place blame for the nation’s economic challenges on Republicans, pointing to a plan released this year by Sen.
“The MAGA Republicans are counting on you to be so frustrated by the pace of progress they have done everything they can to slow down that you will hand power to them so they can enact their extreme agenda,” Biden said.Biden’s remarks precede what is likely to be more tough news for the White House when the federal government reveals its newest inflation data midweek.Nowhere is the pain more obvious than at the gas station.
by the end of the year in response to the invasion of Ukraine. The European move has a much bigger impact on world markets than any short-term measures the Biden administration can take to blunt rising gas prices.Analysts warn it could be a long time before prices come down significantly. At the very least, it is likely to be a long, challenging summer for drivers.
A gas tax holiday is another fraught option. It takes away badly needed funding for roads and sends an artificial signal to consumers that prices are dropping and they can drive more, when the reality is the supply is still tight. Urging states to reduce speed limits, De Haan said, could go a long way toward helping consumers save gas. But there is not a huge political appetite for that, either.
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