President Biden says his administration plans to attack the soaring inflation that the country has endured during his presidency.
During Tuesday night?s State of the Union address, President Biden acknowledged that families across the U.S. are suffering from rising day-to-day costs.
?The pandemic meant that businesses had a hard time hiring enough people because of the pandemic to keep up production in their factories,? Biden said. ?So, you didn?t have people making those beams that went into buildings because they were out and the factory was closed. The pandemic also disrupted the global supply chain. Factories closed. When that happens, it takes longer to make goods and get them to the warehouses and to the stores and prices go up. One way to fight inflation is to drive down wages and make Americans poor. I think I have a better idea to fight inflation: lower your costs and not your wages.?
Biden says he wants to cut energy costs for the American people.
?An average of $500 a year by combatting climate change. Let?s provide investment tax credits to weatherize your home and your business to be energy efficient and get a tax credit for it. Double Americans? clean energy production in solar, wind and so much more. Lower the price of electric vehicles saving another $80 a month that you?re not going to have to pay at the pump.?
Iowa Governor Kim Reynolds gave the Republican response to Biden?s address. She claimed the administration?s reckless spending has caused the current inflation crisis.
?The president and Democrats in Congress have spent the last year either ignoring the issues facing Americans or making them worse,? said Reynolds. ?They were warned that spending trillions would lead to soaring inflation. They were told that their anti-energy policies would send gas prices to new heights. But they plowed ahead anyway, raising the price at the pump by 50% and pushing inflation to a 40-year high. The Biden administration believes inflation is quote ?a high-class problem.? I can tell you, it?s an everybody problem.?
Reynolds delivered her speech in downtown Des Moines.
