Feenstra Warns Inflation Will Climb Higher If Democrats Succeed in Passing Their Spending Proposal

Floor Remarks by Rep. Randy Feenstra (IA-04) | VIDEO

“Top economists are warning inflation is here to stay for years, and it will only get worse if Democrats pass over $5 trillion in additional spending. This is a hidden tax hike on every American family.”

As prepared for delivery:

Back in February, my Republican colleagues and I warned Democrats’ reckless spending would have a devastating inflationary effect.

In fact, many experts at the time — including former President Obama’s top economist — warned spending trillions more would devalue our dollar, causing the price of goods and services to increase.

Sure enough, just one month later, we learned that the Consumer Price Index had its highest monthly jump in nearly 10 years.

The Producer Price Index has also skyrocketed to 8.3%, a record high.

While the Biden administration continues turning a blind eye to inflation, top economists are warning it is here to stay for years.

And it will only get worse if Democrats pass over $5 trillion in additional spending.

This is a hidden tax hike on every American family.