GOP Creates Bill to Make the Biden Administration Accountable for Inflation

Joe Biden is completely ignoring the fact that he was and still is responsible for inflation. He acts like he has nothing to do with it, and it’s outrageous!

Instead, we see him stubbornly refuse to admit his failures. This kind of attitude will cost our nation dearly in the long run. 

Biden Uses Inflation as Excuse to Hit GOP on Economy

Biden used the most recent inflation report to hit House Republicans on their economic agenda. The consumer price index showed that: 

  • The annual inflation rate fell from 7.1 percent in November 2022 to 6.5 percent in December
  • Prices overall dropped 0.1 percent last month after rising 0.1 percent in November

Biden said, “Today’s inflation numbers are good news, the good news about our economy. We have more work to do, but we’re on the right track. We’re seeing bright spots across the country where great things are happening.” 

He also argued against Republican proposals such as clawing back $80 billion from funding set aside by the Inflation Reduction Act… which he said would benefit wealthy Americans over middle-income ones.

“These were all pieces of that big law that we passed last year,” Biden said, referring to the Inflation Reduction Act. “Now they’re kicking in, and Americans are starting to feel the benefits.” 

Moreover, during a Martin Luther King Day event… Biden called Republicans “fiscally demented” for criticizing his administration’s spending.

He boasted that he reduced the deficit by $350 billion last year. Biden also touted his trillion-dollar spending packages throughout the speech.

“Guess what. I reduced the deficit last year to three hundred and fifty billion dollars.”

However, inflation hit a 40-year-high of 9.1% in June. Gas prices soared under his watch in November. In reality, the administration hasn’t done anything significant for the economy. The left are also blaming the Republicans for Biden’s mistakes.

GOP Chair Pushes a Bill to Help Alleviate Inflation

House Republicans, led by GOP Conference Chairwoman Elise Stefanik, are pushing the “REIN IN Inflation Act.” This legislation intends to hold the administration accountable for any actions contributing to inflation.

Stefanik shared her thoughts on Fox News Digital. She said, “Already, the new Republican majority is working to fulfill our commitment to America and create a strong economy… which begins with this critical check to rein in the Biden administration’s reckless policies fueling inflation.” 

The bill would require an inflation report from the Office of Management and Budget and Council of Economic Advisors for any executive action… estimated to cost over $1 billion. It is being co-sponsored by: 

  • Ways and Means Committee Chair Jason Smith, Oversight Committee Chair James Comer
  • Financial Services Chairman Patrick McHenry
  • GOP Conference Chairwoman Elise Stefanik 

House Republicans hope this new legislation will help stop reckless spending… which has thrown “fuel on the inflation fire” since Biden took office.

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2 Thoughts to “GOP Creates Bill to Make the Biden Administration Accountable for Inflation”

  1. […] The Biden administration is urging Congress to raise the debt ceiling before June. They are warning that failure to do so could have catastrophic consequences for the US economy…  […]

  2. […] argue that Biden fails to tackle inflation that is burdening American families. The president’s speech left many conservatives skeptical […]

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