Tuberville: Democrats’ Out of Control Spending Putting Economic Recovery at Risk

‘For many folks, a 4% hike on a grocery bill takes a serious toll. Rising prices like these are the definition of a kitchen table issue.’

‘The Democrats’ out of control spending is putting the recovery at risk. And it’s the American families who will pay the price in the end.’

‘Higher taxes, combined with Democrats’ inflation, would be a one-two punch to knock out our nation’s economic recovery.’

WASHINGTON – U.S. Senator Tommy Tuberville (R-AL) today delivered remarks on the Floor of the United States Senate regarding the negative effects of Democrats’ runaway spending policies. Sen. Tuberville noted that inflation particularly hurts low-income Americans, and that Democrats’ plan to raise taxes would only further endanger the post-pandemic economic recovery.

Excerpts from his remarks can be found below, and the full speech can be viewed here.

“Inflation is not an abstract idea thrown around by finance gurus. Inflation is a very real threat to the pocketbooks of hardworking Americans throughout our great country.”

“I recently spoke with a group of homebuilders from across Alabama. They told me how they’re seeing price increases that are even higher than the ballooning national average. As an example, in Alabama and across much of the South, homebuilding materials such as brick prices are up 10%, insulation prices are up 15%, sheetrock prices are up nearly 50%, lumber prices are up 300%, and particle board prices are up by more than 600%.”

“Folks back home can rest assured that I’ll be monitoring this closely. I’ll be listening to my constituents and other companies about their costs and supply chain experiences. But I shouldn’t be the only on taking these concerns into account. These price jumps should be concerning to all of us in this building. Because the national numbers don’t paint a rosy picture. In April, consumer prices jumped by 4.2% – the highest rise in over a decade. Energy prices went up 25% overall, with gas prices increasing nearly 50 percent.”

“This level of inflation doesn’t just affect a select few – it affects all American families. For many folks, a 4% hike on a grocery bill takes a serious toll. Rising prices like these are the definition of a kitchen table issue. Paying 50% more for gas, or having a costlier electric bill, forces families to make a hard choice on what they can and cannot afford for that month.”

“[W]e know what makes inflation worse: massive government spending.”

“President Biden and Congressional Democrats already spent 1.9 trillion dollars on a stimulus bill that flooded the economy with cash just two months ago.”

“Now, they want to spend trillions on a package they’re trying to disguise as ‘infrastructure.’ And they’re following this up by trillions more to fund items on the progressive priority list in the future. Well, they are being confronted by that old truth: there’s no such thing as a free lunch.”

“Thanks to the bipartisan emergency relief bills passed under President Trump, the economy had stabilized by year end. We were in the middle of the most rapid economic recovery on record. The Democrats’ out of control spending is putting the recovery at risk. And it’s the American families who will pay the price in the end.”

“In addition to a reckless monetary policy, they want to raise taxes on all of us, including small businesses and family farms to fund this spending spree.”

“If they repeal the Republican tax cuts, Democrats will be encouraging American companies to move overseas. Job creators will have to pay more taxes at the same time as they’re recovering from the pandemic. And the tax increases being proposed will be passed on to working Americans – in the form of higher prices and lower wages.”

“Higher taxes, combined with the Democrats’ inflation, would be a one-two knockout punch to our nation’s economic recovery.”

“It only takes one match to start a brush fire. Rather than taking commonsense steps to fight inflation, Democrats are preparing for it by dumping lighter fluid on the whole field.”

_{Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, and HELP Committees.}

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