Today, amid reports from the Bureau of Labor Statistics that year-over-year inflation rose 8.6% in May, U.S. Rep. Randy Feenstra (R-Hull) renewed calls to pass the Inflation Prevention Act, which he helped introduce in January along with Rep. Mike Garcia (R-CA). This commonsense legislation would prevent legislation estimated to increase inflation from becoming law until year-over-year inflation drops below 4.5%.
Senators Tim Scott (R-SC) and John Thune (R-SD) have introduced companion legislation in the U.S. Senate. Feenstra is an original cosponsor.
“Contrary to what Democrats have claimed for months, inflation is not transitory, and Iowans are paying the price, particularly in our rural communities. Prices for gas, groceries, and everyday household goods are through the roof because of Biden’s wasteful, radical agenda,” said Rep. Feenstra. “We can’t continue to print money, increase our debt, and ask Iowans to foot the bill. That’s why I’m proud to help introduce the Inflation Prevention Act so that we can actually fight inflation, lower costs for Iowa families, and reduce our crippling $30 trillion debt.”
As a fiscal conservative, Feenstra has consistently opposed President Biden and House Speaker Nancy Pelosi’s wasteful spending agenda, including Democrats’ so-called Build Back “Better” Act last December and their $1.5 trillion pork-filled domestic spending package earlier this year.
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