On the recordJuly 18, 2022
Madam President, at each of my 99 county meetings and in conversations with Iowans generally, the record cost of living is top of mind as Iowa families feel the impact of 9.1 percent inflation. They feel that on their family budgets, for sure. Due to rampant inflation spurred by reckless government spending, consumer prices are escalating at a historic pace. Middle-class Americans are paying more for everything from gasoline, food, and shelter, to home furnishings, prescription drugs, and clothing. Since President Biden took office January 2021, consumer prices have increased, on average, 12 percent nationally. As a result, the average Iowa household has seen its monthly living expenses increase to $670 a month. The rising cost of transportation, energy, and food has hit household budgets particularly hard. Since January 2021, Americans on average are paying an extra $206 a month on energy, $334 a month on transportation and gas, and an additional $76 a month for food. It is no wonder inflation is the No. 1 concern that I hear about as I tour Iowa's 99 counties. Rising wages have helped some Iowans manage the rising cost of living. However, for most, rising prices have far outpaced the wage gains. While trying to make up an extra $600 a month is hard enough for wage earners, it is next to impossible for senior citizens who are on fixed incomes. For senior citizens, there is no prospect of getting a raise like you might get if you have a job.…





