Press ReleaseJuly 29, 2022

High PCE Index Inflation Is More Reason to Scrap Democrats’ Latest Spending Plans

Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement in response to the Commerce Department’s announcement today that the Personal Consumption Expenditures Index increased by 6.8% over the last year:

“Skyrocketing inflation shows no sign of slowing down. The Personal Consumption Expenditures index, the Fed’s favorite inflation gauge, is rising at an out-of-control rate, reflecting the pain that ordinary Americans are feeling from the Biden administration’s reckless spending. Now, Senate Democrats and Biden want to fuel this inflationary fire by spending $433 billion on left-wing priorities like green energy and Obamacare in their latest Build Back Better bill. This plan would also worsen the current recession by significantly increasing taxes on job creators at the worst possible time. To reverse runaway inflation and emerge from recession, this tax-and-spend bill must be defeated.”