For months on end now, the Biden administration has been called to deal with inflation.
Inflation is eating away at Americans’ earnings, reducing the spending power of the American dollar, and blocking people from being able to put money aside into savings.
Polls have shown since 2021 that people want Biden to focus on both inflation and other matters related to the economy. However, the 46th president is more interested in railing against the Senate filibuster and demonizing anyone who disagrees with him.
At this point in time, it couldn’t be plainer than Biden has absolutely no intention of facing or fixing inflation whatsoever. Therefore, Republican lawmakers are stepping up to the plate to make it happen, as Newsmax confirms.
Understanding the GOP’s Plan to Tackle Inflation
Republicans in the House of Representatives and the Senate have thrown their support behind legislation known as the Inflation Prevention Act.
The Inflation Prevention Act would prohibit congressional bills that increase inflation until inflation’s rate falls to at least a 4.5% low. This legislation also comes at a time when inflation is higher in America than it’s been in decades.
Joe Biden announced he will give away 400 million N95 masks. The masks come in three sizes: Small, Medium & Virtue-signal. pic.twitter.com/t4aKnMejst
— Bill Maher (@billmaher) January 22, 2022
Republicans in Congress are citing the Inflation Prevention Act as a critical means of helping the nation’s economy heal. GOP lawmakers are additionally of the view that this bill shall make living more affordable for everyday Americans.
As GOP Sen. Marco Rubio pointed out, everyday people in the country aren’t focused on matters that lawmakers have been squabbling over lately.
Rubio also made a point of calling out Biden for promoting reckless spending, despite the disastrous consequences for the economy and the American people.
Will the Bill Pass?
At this time, there are two different versions of the Inflation Prevention Act in both the Senate and the House of Representatives. Due to the reality of Republicans being in the minority in both chambers, this puts the legislation in a very tight spot when it comes to passing Congress.
However, if Republicans are able to take back the majority in the Senate and the House of Representatives during the November midterms, then it may very well pass Congress.
Americans are facing the highest level of inflation in nearly 40 years. I'm proud to join @SenatorTimScott and @SenJohnThune in introducing the Inflation Prevention Act to combat out-of-control inflationary spending and provide financial relief for Americans. pic.twitter.com/pbttUhbzmD
— Rep. Mike Garcia (@RepMikeGarcia) January 20, 2022
Nevertheless, even if the Inflation Prevention Act passes Congress under a GOP majority, there’s a very strong chance Biden will veto the bill.
Time and time again, this president has thrown his weight behind one spending measure after the other. He’s done this in spite of soaring prices, inflation, bare store shelves, and other problems.
What do you think about the current status of inflation in America? Do you believe inflation needs to go down from where it stands currently? In the comments area down below, let us know your ideas and views about the GOP-introduced Inflation Prevention Act.