WASHINGTON – With Americans struggling to keep up with an 8.2% annual inflation rate, an increase of 0.4% for the month and more than the 0.3% Dow Jones estimate, Competitiveness Coalition Chair Scott Brown today blasted liberal leaders on Capitol Hill for using what little time remains this legislative session on attacking America’s innovators rather than fixing the economic crisis at hand.
“As countless Americans wonder how to afford to feed their families, heat their homes and keep a roof over their heads, it’s beyond the pale that some legislators are still fixated on passing a bill that reduces consumer choice and increases prices,” said Chair Scott Brown. “The Biden White House and their liberal allies in Congress have given us40-year record high inflation and two consecutive quarters of negative GDP growth and yet they believe the American public should trust them when it comes to regulating an industry that’s served as our nation’s economic engine for the last decade. Senators and Members of Congress should reject antitrust activists who are still pushing for passage of the American Innovation and Choice Online Act, whose mandates would only exacerbate our economic challenges.”
Additionally, the BLS’ Producer Price Index announced yesterday prices climbed 0.4% since last month, more than economists anticipated, an increase of 8.5% from a year ago.
The Competitiveness Coalition is a first-of-its-kind group educating the public and advocating for policies that put consumers first while fostering innovation and attracting new investment.