Hawkeye Reporter

As inflation fears climb and wages decline, U.S. Sen. Joni Ernst (R-IA) shared in her constituents’ concerns about rising prices.

“Our families are already feeling the pinch from the rising costs of goods and services, and the last thing they want is higher taxes and higher prices,” Ernst told Hawkeye Reporter. “Washington Democrats are moving forward with their reckless, multi-trillion dollar tax-and-spending spree to pass their progressive agenda at the expense of Iowa families, farmers, and businesses. And it will only fan the flames of inflation. While trillions of dollars may not mean a lot to Washington politicians, it means a heck of a lot to the taxpayers in Iowa who are footing their bill.”

The U.S. Bureau of Labor Statistics announced on Aug. 11 that the Consumer Price Index has risen 5.4% over the past 12 months. 

That news came days after former Obama Chairman of the Council of Economic Advisors and current Harvard economist Jason Furman issued a report that said inflation has led to an effective 2% wage decline for American workers in June.

Libertarian author Kristen Tate says there are two significant drivers of the current inflation: “Money printing by the Federal Reserve” and “massive government spending.” She calls the growing inflation “Biden’s hidden tax on working Americans.” 

This week, U.S. Sen. Joe Manchin (D-WV) expressed concerns over inflation, calling it an “unavoidable tax on the wages and income of every American.