On the recordJune 26, 2024
Since President Biden has taken office, prices have risen 20.1 percent. That means the average American household is spending an average of $13,000 more a year for common household items. Despite this out-of-control, spending-induced inflation, the Biden administration continues to overspend and overregulate. In fact, in just 3\1/2\ years, this administration has finalized 991 new regulations. Those regulations will result in an estimated 300 million additional hours of paperwork every year for Americans and bring with them a total finalized cost of $1.6 trillion. This comes as small business owners struggle to remain competitive and keep up with these rising costs. Madam Speaker, it is past time the Biden administration ends its regulatory war against small businesses and unleash the American ingenuity and capitalism that has traditionally given Americans the highest standard of living in the world. ____________________
