Inflation remains at a 40-year high of 8.5%. The cost of goods and services families need are soaring. Over the past year, the cost of eggs are up 38%, flour is up 22.7%, coffee is up 20.3%, cereal is up 17.6%, bread is up 13.7%, and bacon is up 11.7%. The cost of gasoline is up 44%! Families across Iowa are feeling the pinch on their budgets to make ends meet.
These steep prices are forcing folks to put regular grocery and gas runs on credit cards. As a result, credit card debt is increasing at the fastest rate in more than 20 years. Inflation isn’t transitory, and it isn’t a temporary problem – it is threatening the long-term financial security of families across the country.
Despite this, President Biden signed legislation this week that would increase, not decrease, inflation. I’ll continue to push back against reckless spending and other harmful policies while pushing for solutions to make your daily life more affordable.
From advocating for an all-of-the-above energy strategy to cutting costly government regulations that cause supply chain bottlenecks, I'll continue working on commonsense policies that will ensure our economy is working for everyone again.
