Washington, D.C. – House Republican Leader Kevin McCarthy (CA-23) issued the following statement in response to the core personal consumption expenditures price index hitting a 30-year high:
“As Democrats debate how many more trillions of dollars in debt to pile on taxpayers on top of already record spending, they are ignoring the obvious warning signs. The Federal Reserve’s preferred measure of core inflation just hit a 30-year high, with no signs the soaring prices will let up for American consumers.
“Congress should be focused on empowering American businesses, fixing the labor shortage, and ending the treat of devastating tax hikes on anyone who dares to invest to help their families, save for retirement, or create jobs.
“But Washington Democrats are doing everything they can to make sure inflation remains a permanent fixture in our nation’s economy, just so long as they can keep making your choices for you. Their multi-trillion dollar, big-government socialist plan will only make things worse for Americans.
“Their economic plan is bad for our country, and will continue to inflate prices, and deflate Americans’ paychecks.”