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Throughout the United States, there are widespread shortages of baby formula. The price of gasoline is averaging over $4 a gallon in every state, and 64% of Americans are living paycheck to paycheck.

Instead of trying to help millions of American families, Speaker Pelosi is ensuring that all congressional staff and Members received the “premier employee benefits package” Peloton membership.

In response to this out-of-touch decision, Leader McCarthy delivered a speech on the House floor where he criticized the Democrats’ reckless taxpayer spending and called on them to focus on the issues that their two years of one-party control have created.

Remarks as prepared are below, or you may watch online here.

“It’s an open secret that Americans are facing serious challenges today. Many of these challenges are Washington-inflicted – caused by Democrats’ incompetence and radicalism: absolute chaos on the southern border, unsafe streets. record-high gas prices and rising inflation, a broken supply chain, an ongoing labor shortage, a failing education system, and of course, a baby formula shortage.

“Will this Congress be remembered as the Congress that addressed these crises? Probably not. Instead, this Congress will go down in history as the out-of-touch Congress. This week, as families scramble to find baby formula, Speaker Pelosi’s House decided to add special new perks for Washington lawmakers and staff. One of those perks was VIP memberships to Peloton gyms — paid for by hard-working, American taxpayers. What’s next, free Jeni’s Ice Cream?

“You may be asking, what’s Peloton? It’s a bike that costs almost $2,000. Not only that, each month you need to pay a monthly subscription fee to ride your $2,000 bike. And best of all, it’s stationary. And they charge you about $300 dollars to set it up. So it’s a $2,000 bike that you pay to use and pay to set up – that doesn’t go anywhere! What a business!

“Speaker Pelosi decided to give everyone in Congress a Peloton gym membership — more specifically, the ‘premier employee benefits package.’ And she did so without any debate or discussion with Republicans. We were left in the dark. Congress – meaning taxpayers – will pay Peloton $10,000 upfront and $10 per month per person. In all, this contract could cost taxpayers an extra $100,000 or more per month. I guess New York City isn’t the only place Speaker Pelosi went on a spending spree this week.

“As the sixth richest member of Congress, the Speaker might not be worried about this costly new program. But American families should sweat it. It comes as families are getting crushed by the worst inflation in 40 years. It’s insane. It’s also redundant. Members and staff already have access to a congressional gym for a membership fee. The Peloton perk does not replace that. Instead, it duplicates it.

“I’d like to see a single Democrat visit my district in the Central Valley and defend this contract with a straight face. There are parents who are going to 8 or 9 stores looking for baby formula, paying for gas that you can barely afford. But instead of trying to help struggling families, Democrats are plundering their pocketbooks to pay for Pelosi’s Peloton membership. You couldn’t imagine a more out of touch party.

And this isn’t an exception. It’s the rule. You actually had Democrat Conference Chair Jefferies talking about the Democrat agenda saying about gas prices, ‘That issue hasn’t come up’ in their conference. We also heard a Democrat member talking with Congresswoman Porter who said ‘we aren’t seeing [inflation] in the polls.’ And yet, as we speak, Democrats are pushing for more reckless spending and higher taxes that will make those problems worse.

“Let’s put things into perspective. 75 percent of Americans believe the country is heading in the wrong direction. Of those who are not confident about the future, most are worried about rising gas prices and inflation. Rising gas prices are costing families an extra $2,000 this year and rising prices are costing them an extra $5,000 overall. As the Ex-Fed Chairman said this week, we could see stagflation for the first time since the 1970s. Unilaterally wasting money on special perks is a slap in the face to every family who is struggling to put food on the table and gas in the tank. In fact, it’s how we got here in the first place.

“Americans cannot afford Democrats’ spin anymore.”