WASHINGTON, D.C. – Today, following the latest Consumer Price Index (CPI) release from the Bureau of Labor Statistics (BLS), Senator Rick Scott released the below statement highlighting the need to implement substantive fiscal reforms to end the ongoing inflation crisis fueled by the Biden administration’s reckless tax-and-spend agenda. November’s CPI data shows that there has been significant inflation nearly every month of Biden’s presidency, increasing 7.1% in November. The 7.1% increase reported for November 2022 is on top of the 6.8% increase reported for November 2021. That means that since Biden’s election, inflation has jumped 13.9%.
With government funding expiring on Friday, December 16, Senator Scott, along with Senators Rand Paul (R-Ky.), Ted Cruz (R-Texas), Ron Johnson (R-Wis.), Mike Braun (R-Ind.) and Mike Lee (R-Utah), wrote a letter expressing strong opposition to passing the Pelosi-Schumer omnibus spending bill, which would continue authorization for the Internal Revenue Service (IRS) to use $80 BILLION of taxpayer money to hire 87,000 new agents. The senators also called on their Republican colleagues in the Senate to support a short-term Continuing Resolution (CR) which simply extends current funding levels until the 118th Congress begins with a new Republican majority in the U.S. House of Representatives.
Senator Rick Scott said, “As inflation continues to rage and make life harder for American families, Washington Democrats are doubling down on their plans for even more reckless spending and a bigger IRS to snoop on your finances. The Pelosi-Schumer Spending Bill is not just a reckless inflation bomb, it also advances dangerous federal overreach that will impact the lives of nearly every hardworking American and business owner. Since we won’t be putting together a balanced budget in the next few days, the next best thing is a CR that rejects any new reckless spending. When the new Congress convenes in January, Republicans in the Senate, along with a new Republican majority in the House, can begin the important work of building a real, balanced budget, repealing Biden’s 87,000 agent IRS army and its insane $600 transaction reporting threshold, and getting America’s finances back in order. It’s time to stop caving to Democrats and stand up for what the American people want in Washington: less government, less spending and more accountability. That’s what I’m fighting for and I won’t stop until we get it done.”
According to today’s CPI release, price increases over the year include:
- Fuel: +65.7%
- Eggs: +49.1%
- Milk: +14.7%
- Butter: +34.2%
- Lunchmeat: +18.4%
- Electricity: +13.7%