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Inflation Hits A 40-Year High

Floor Speech

Date: July 14, 2022
Location: Washington, DC

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Mr. WILLIAMS of Texas. Mr. Speaker, just this week June's inflation numbers hit a 40-year high at 9.1 percent, and average hourly earnings hit a new low.

Instead of providing relief for American families and job creators, Democrats are working on new tax increases. Amidst a potential economic recession and rampant inflation, this tax hike will crush Main Street America, impacting 88,000 businesses just in Texas alone.

As a small business owner for over 50 years, I can tell you that Democrats' out-of-touch policies are making it harder to operate a business. Inflation is making it more expensive to purchase goods and make ends meet, and Democrats' tax hike will further cut the operating margins, making it harder to grow and compete.

While the economy is struggling, we should be cutting taxes, not raising taxes. We must put an end to the Democrats' tax-and-spend agenda and focus on building a stronger Main Street. Bottom line is, we need businesspeople in Washington.

In God we trust.

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