FOR IMMEDIATE RELEASE
Contact: Austin Hacker
WASHINGTON — On the floor of the House of Representatives, Congressman James Comer (R-Ky.) expressed serious concerns over new economic data indicating inflation has hit a record 9.1%. He highlighted how frustrated farmers in Kentucky's First District are contacting him regularly regarding the high cost to keep their equipment operating. The price of everyday goods and services are rising dramatically under the Biden Administration, and he concluded his time by stressing how Congressional Democrats’ unchecked spending has put our economy on the verge of recession.
Below are Congressman Comer’s remarks as prepared:
Madam Speaker,
Today, I rise to discuss yet another disastrous economic record for the Biden Administration: inflation has hit 9.1%.
Grocery costs are up, gas prices are up, nearly every essential item for everyday living is up. The Biden Administrations failed economic policies and unchecked spending by Congressional Democrats has put our economy on the verge of recession.
Gasoline, on average, costs over 47% more than it did one year ago. In my home state of Kentucky, citizens are paying twice as much at the pump as they did last year. In fact, Kentuckians have seen a 50% increase in gas prices since last year and a diesel increase of 84% which is detrimental to the farming industry.
Farmers are at their breaking points. The USDA recently reported that farm expenses are expected to rise by over 20 billion dollars within the next year. I’m hearing daily from constituents in Kentucky’s First Congressional District who are deeply concerned. Rightfully so.
They’re saying it’s costing over $5,000 dollars per day just to keep farm equipment operational due to the price of farming diesel increasing 110% in the last year. This is unsustainable.
On top of inflation, it’s clear that President Biden has made diminishing American energy production a policy priority.
Madam Speaker, Americans are in trouble. The cost of everyday living is skyrocketing.
No matter how hard Democrats may try, Congress cannot spend their way out of this problem.
Thank you, I yield back.