Joe Biden

Biden Touts Efforts to Tackle Inflation, Assails GOP's Economic Agenda

Biden sharpened his attacks on Republicans, taking aim at a proposal from Sen. Rick Scott, of Florida, that includes a new minimum tax on the middle class and sunsets Social Security and Medicare within five years

NBC

President Joe Biden outlined his efforts to fight inflation and lower consumer prices in a speech from the White House on Tuesday, contrasting his agenda with the proposals of Republicans, who have made the economy a top line of attack against Democrats as primary season begins.

"I believe inflation is our top economic challenge right now," said Biden, who did not announce any new policy initiatives.

Republicans have sought to blame Biden's policies for rising prices, while the president has attributed inflation to pandemic-related shutdowns that disrupted the global supply chain, along with Russia's invasion of Ukraine.

Biden sharpened his attacks on Republicans, taking aim at a proposal from Sen. Rick Scott, of Florida, that includes a new minimum tax on the middle class and sunsets Social Security and Medicare within five years.

“Republicans in Congress are so deeply committed to protecting big corporations and CEOs that they’d rather see taxes on working American families,” Biden said.

Read the full story on NBCNews.com

Inflation rose 7.9% in February 2022, the, the biggest rise in the consumer price index in 40 years, the Labor Department reported. But what exactly is inflation? And what is causing it?
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