Reported by ALEX NITZBERG | November 10, 2021
As Americans suffer the consequences of rising inflation, Democratic Sen. Joe Manchin of West Virginia is saying that “the inflation tax is real” and Washington cannot keep ignoring the financial hardships people are experiencing.
“By all accounts, the threat posed by record inflation to the American people is not “transitory” and is instead getting worse. From the grocery store to the gas pump, Americans know the inflation tax is real and DC can no longer ignore the economic pain Americans feel every day,” Manchin’s tweet declared.
His comments came as newly released data revealed that consumers continue to face rising prices.
The U.S. Bureau of Labor Statistics reported that the consumer price index has risen 6.2% over a 12-month period, marking the largest one-year jump in more than three decades.
“The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.9 percent in October on a seasonally adjusted basis after rising 0.4 percent in September,” according to the department. “Over the last 12 months, the all items index increased 6.2 percent before seasonal adjustment.”
The cost for necessities like food and energy have risen significantly during the past year.
“The all items index rose 6.2 percent for the 12 months ending October, the largest 12-month increase since the period ending November 1990,” the department said. “The energy index rose 30.0 percent over the last 12 months, and the food index increased 5.3 percent,” the department reported.”
As President Biden and congressional Democrats push for the passage of a massive spending plan, Manchin has been a persistent obstacle in his party’s path, refusing to back their proposal. The senator has said that he will not “support a package that risks hurting American families suffering from historic inflation.”
Proponents of the proposal contend that passage of the massive spending plan would actually combat inflation.
“The best way to address inflation is to pass a bill that creates jobs, reduces bottlenecks, and is totally paid for by making sure the wealthy pay their fair share. That’s just what we’re doing with the Build Back Better Act,” a tweet shared on Senate Majority Leader Chuck Schumer’s (D-N.Y.) account claims.