Political Quotes

“Madam Speaker, I would also say to my friend from Texas, as it relates to inflation, the gentleman is correct. There has been, on a year-over-year basis, a jump of about 8 percent, 8.3 percent, I think he mentioned. But since the beginning of the year, that has fallen dramatically. Of course, over the summer we saw deflation in a couple of months, and the most recent inflation report in August was it rose .1 percent. So, annualized, that is a 1.2 percent inflation rate now because we are seeing prices drop, particularly in the energy sector. So as much as my friends on the other side would like to wish that we had inflation, it is going away because we have been able to pass legislation like the Inflation Reduction Act, which takes a good look at both climate responsibilities that we have in urging and incentivizing towards renewable energy. But it also has a huge piece in there to allow us to negotiate prescription drug prices and bring those down. So I would say to my friends on the other side, this bill is about dealing with loans, consolidated loans that now need to be separated. But on the subjects brought up, I can tell you that inflation is dropping based on the most recent reports, and gas prices are falling. Madam Speaker, I reserve the balance of my time.”