ICYMI
INFLATION HERE TO STAY: Budget Chairman Arrington Reacts to New PCEPI Report
House Budget Committee Chairman Jodey Arrington (R-TX) released the following statement today on the Bureau of Economic Analysis’s (BEA) August report on personal consumption expenditures price index (PCEPI) - the Fed’s preferred measure of inflation. The report showed that topline inflation has steadily increased for the third consecutive month, resulting in cumulative PCEPI inflation of 14.0% since President Biden took office. “Our small businesses and employers are feeling the brunt of … Continue Reading
September 28, 2023
ICYMI: Chairman Arrington Joins The Claman Countdown
Today, Chairman Jodey Arrington (R-TX) joined the Claman Countdown on Fox Business to discuss the latest developments regarding the impending government shutdown. Arrington discusses the complexities of the issue within the House Republican Conference and underscores the importance of reforming how Washington taxes and spends our taxpayers’ money. Arrington on the Shutdown: “Republicans have an opportunity to use the power of the purse and work together on an internal Republican compromise … Continue Reading
September 27, 2023
ICYMI: Americans Feel the Sting from the Fed’s Rate Hikes
Over the past two years, Democrats have financed their radical agenda and vast expansion of the federal government with an unprecedented $11 trillion in spending. This led to an inflationary firestorm that caused the Federal Reserve to raise interest rates at a rapid pace. Now, according to an article in the Wall Street Journal, Americans looking to purchase homes or vehicles are feeling the pain in tangible ways. Highlights from the Article: “Purchasing a home or car right now is … Continue Reading
September 22, 2023
ICYMI: House Budget Panel Republicans Deliver Plan to Tackle $33T Debt.
By: David Ditch September 21, 2023 The federal government reached an ominous milestone Sept. 15 as the gross national debt exceeded $33 trillion—or more than $57,000 per household. The debt increased by $1.5 trillion in just 15 weeks due to rising spending and declining revenue. That’s understandably concerning, especially at a time of rising interest rates and elevated inflation. Higher interest rates on a growing debt have caused a hard spike in federal interest payments, eating … Continue Reading
September 21, 2023
ICYMI: Chairman Arrington joins Mornings with Maria
Today, House Budget Committee Chairman Jodey Arrington (R-TX) joined “Mornings with Maria” on Fox Business to discuss the Committee’s passage of the House GOP budget resolution, the ongoing battle over government funding, and the importance of refocusing the budget on America’s national priorities. Chairman Arrington on Progress in Spending Talks “This is the debate you want from your Republican majority. We're going line-by-line, account by account, to root out the woke and waste and right … Continue Reading
September 11, 2023
ICYMI: Chairman Arrington joins Fox News to Discuss Upcoming Funding Fight
House Budget Committee Chairman Jodey Arrington (R-TX) joined Fox News on Sunday to discuss passing the federal budget and the growing concern of a government shutdown as the House reconvenes from August recess this week. Arrington on Passing a Budget: “… Republicans need to unify around a conservative funding bill. That's what our focus is going to be when we get back and I think the outcome is going to be better for the American people and for our country in the long run. It's hard work … Continue Reading
September 06, 2023
ICYMI: The Coming Green Energy Bailout
The Inflation Reduction Act (IRA) includes hundreds of billions of dollars in subsidies for green energy, yet now renewable developers want utility rate-payers in New York and other states to bail them out.According to a report late last month by the New York State Energy Research and Development Authority (Nyserda), large offshore wind developers are asking for an average 48% price adjustment in their contracts to cover rising costs. The Alliance for Clean Energy NY is also requesting an … Continue Reading
August 31, 2023
ICYMI: Drug Price Controls Mean Slower Cures
This week, the Wall Street Journal Editorial Board issued a new piece highlighting the consequences of Democrats’ government price controls that threaten the development of new medicines for patients and higher prices for new drugs.This follows President Biden’s announcement of the first 10 drugs subject to government price controls under the Democrats’ so-called “Inflation Reduction Act.” More accurately named the “Innovation Reduction … Continue Reading
August 29, 2023
ICYMI: Rising Gasoline Prices Hit Inflation-Weary Americans.
American families are feeling the pain from inflation, and the hits just keep coming. In recent weeks, Americans have seen gasoline prices rise to their highest level in the last year. As a result, companies are delaying upgrades, losing workers, and avoiding hiring extra help, while moving to charge customers more to make ends meet.The Facts: A gallon of regular gasoline averaged about $3.82 nationally on Sunday, about 60 cents higher than at the beginning of the … Continue Reading
August 17, 2023
ICYMI: Mortgage Rates Hit 7.09%, Highest in More Than 20 Years
The dream of homeownership is a key tenant of the American experience. But increases in mortgage interest rates can jeopardize this American dream for millions of Americans. When President Biden took office, mortgage rates in the United States were below 3%. Today, the average mortgage rate has increased to 7.09%, which is the highest level in almost 20 years. This recent rise is a continuation of high borrowing costs that have “slowed the housing market to a crawl," … Continue Reading
August 11, 2023
ICYMI: Biden’s IRS Chases Chump Change
By: Phil Gramm and Jodey ArringtonAugust 11, 2023Criminals stole at least $1 trillion from taxpayers during the pandemic. To date the Biden administration has offered only lip service and modest funding to try to reclaim these funds and punish wrongdoers. Meanwhile President Biden is hiring an army of Internal Revenue Service agents to shake down Americans he claims are tax avoiders. And his commitment is concrete—$80 billion to hire 87,000 new IRS agents. According to … Continue Reading
August 10, 2023
ICYMI: Everyone Is Forgetting About GROWTH
Republicans have long believed that implementing policies that lead to long-term economic growth must be a centerpiece of any budgetary framework to get our fiscal house in order. This week, the Committee to Unleash Prosperity issued a new piece highlighting the importance of economic growth to help get our deficits under control and unleash a renewed era of American prosperity. CLICK HERE or scroll below to read the full piece. “Everyone outside the … Continue Reading
August 07, 2023
ICYMI: Medicaid Redeterminations Protect the Most Vulnerable
This week, Sally Pipes, President of the Pacific Research Institute, wrote a column sounding the alarm on the importance of protecting the most vulnerable in the Medicaid program through the redetermination process. What is Redetermination? Redetermination is when a state conducts eligibility reviews for Medicaid recipients. That routine practice was put on pause during the COVID-19 pandemic. As a result, there are now over 18 million ineligible enrollees in the Medicaid program … Continue Reading
August 07, 2023
ICYMI: Chairman Arrington on Squawk Box to Discuss Fitch Downgrade
Today, House Budget Committee Chairman Jodey Arrington (R-TX) joined "Squawk Box" on CNBC to discuss Fitch Ratings' decision to downgrade the U.S. government's credit rating from AAA to AA+. Republicans have been sounding the alarm on the urgent need to control Washington's unchecked spending that is hurting the economy and could drive our country into a recession. Chairman Arrington on Debt and Deficits:"I do think the last two years: the $11 trillion in record … Continue Reading
August 03, 2023
ICYMI: Chairman Arrington on Fox Business to Discuss Fitch Downgrade
Today, House Budget Committee Chairman Jodey Arrington (R-TX) joined "Varney & Co" on Fox Business to address Fitch Ratings' recent decision to downgrade the U.S. government's credit rating from AAA to AA+. Republicans have been repeatedly sounding the alarm on how the Biden administration’s reckless spending is hurting the economy and jeopardizing the future of our country.Arrington on Fitch Ratings Downgrade “I think if you read the Fitch report, it's … Continue Reading
August 01, 2023
ICYMI: House Republicans Must Deliver a Balanced Budget
Last week, former Speaker of the House Newt Gingrich wrote a column sounding the alarm on how our country’s “massive deficits” and “enormous national debt” are hurting workers and businesses, showing that Americans want Congress to pass a balanced budget. As Speaker Gingrich said: “If a business or a family had a debt burden on scale with the U.S., it would be considered a crisis that had to be solved. This is a crisis for America, and … Continue Reading
July 24, 2023
ICYMI: The Latest Extraordinary Findings on Pandemic Improper Payments
Matt Weidinger of the American Enterprise Institute (AEI) recently released a blog Sounding The Alarm on "how badly government programs were abused during the pandemic."Breaking down the latest findings from a Government Accountability Office (GAO) report, Weidinger writes that the federal government "reported over $500 billion in estimated improper payments" during COVID's peak. CLICK HERE or scroll below to read the full blog. American Enterprise Institute The Latest … Continue Reading
June 12, 2023
ICYMI: The Continuing Unreality of Bidenomics
Last week, President Biden wrote an oped highlighting the “successes” of his Administration’s economic agenda.In a scathing rebuttal, James Freeman wrote that “president’s economic claims are chronically at odds with government statistics.”On Anemic Economic Growth: “Mr. Biden’s own Commerce Department affirms that the U.S. economy was growing faster during the quarter he took office than it has in the two years since.” On Soaring … Continue Reading
June 05, 2023
ICYMI: Why President Biden’s Moratorium on Student Loan Repayments was a Bad Idea
The endless extension of what was supposed to be pandemic-related relief through the student loan payment moratorium turns out to have hurt everyday Americans—including the student loan borrowers themselves. House Republicans have been leading the charge to stop President Biden’s student loan bailout for the wealthy and end the permanent pandemic narrative used by the Administration to justify these costly executive actions. For every month borrowers were allowed to skip … Continue Reading
June 01, 2023
ICYMI: Biden’s Drug Price Controls Kill Innovation and Drive-Up Long-Term Costs
President Biden and Democrats’ so-called Inflation Reduction Act (IRA)—or, more accurately put, the Innovation Reduction Act—has been bad news for America’s leading role in new drug development and patients hoping for new therapies.A new report released today shows another devastating impact of this deficit-crushing law: it will cause patients to lose access to an estimated 40 PERCENT of new medicines or up to 139 new therapies over the next decade.The study, released … Continue Reading
