Andy Barr: “For over a year, Democrats have dismissed the historic inflation crushing American households. First, they said it was…”

“For over a year, Democrats have dismissed the historic inflation crushing American households. First, they said it was transitory. Then, they played it down as a high-class problem. Now, President Biden ridiculously and falsely refers to rising prices as Putin's price hike. But the American people know that Democrats' failed policies created this inflation crisis. Their overspending created excess demand. Their war against domestic energy production constrained supply. And this supply-demand mismatch pushed prices to a four-decade high. In March 2021, the Consumer Price Index was at 2.6 percent and gas prices were $2.70 per gallon. That month, President Biden's American inflation plan was signed into law. What happened as a result? We have 8.6 percent inflation on the CPI from last Friday, the highest in over 40 years. On top of that, we are seeing historic energy prices. Fuel oil is up 106 percent, the highest ever, and regular gasoline is up over 50 percent year over year. For the first time ever, gas prices reached $5 per gallon nationally last week. Instead of addressing the cause of inflation, such as Big Government spending, radical energy policies, and politicization of access to capital, they continue to push partisan packages that will do absolutely nothing to correct historic inflation that is plaguing the middle class. Case in point is this bill, the Racial Equity, Inclusion, and Economic Justice Act.…”