Inflation is hurting all of us with the high cost of everything from essentials to entertainment. Why has it gotten so bad?
The Federal Reserve dumped $3 trillion - yes, trillion - dollars into the economy within a few months during the COVID crisis. Of course that is the main cause of inflation.
There are other factors that don't help either. COVID caused a huge supply chain crisis that is only now getting back to normal. Russia's invasion of Ukraine has reduced the supply of critical commodities like oil, and Saudi Arabia is cutting back supply too. That especially hurts us here in the 10th district, since many of us have long commutes into work. The government issued checks to everyone during COVID whether they needed it or not.
In keeping with my campaign pledge "Let's Get Things Done," I have a plan with several specific parts:
First, the Federal Reserve needs to withdraw the money that it flooded into the system. They have begun doing it, but Congress can pass legislation to direct them to withdraw more, and also to prohibit them from flooding the system again without Congress's permission. I will introduce that legislation.
Second, the government can help with the price of oil. There are a lot of non-OPEC countries with oil that are friendly with the U.S. Many of them are producing less oil per day than they were only a few years ago. We can work with them to get their production back up and help increase the supply, and lower the price we're all paying at the pump. And while we're at it, we can help them limit their carbon emissions, because the U.S. produces oil more cleanly than any other country.
Third, I've also got some great ideas about how to lower health care costs and education costs, which will each make a huge difference in your pocketbook. Check out my plans for that on the Health Care and Education pages.
There's more to do than just fight inflation. We need to make sure we have a good climate for businesses to start up and be able to succeed. My dad was a small businessman so I have a deep appreciation for the hard work that goes into running a business. I will work to make it easier for people like him to achieve their dreams and earn a living.
President Biden has gotten a lot done by passing some major economic legislation, such as the Infrastructure Investment and Jobs Act, the CHIPS and Science Act, and the Inflation Reduction Act. These laws are finally putting into practice what many Democrats have long wanted, by investing in local communities and their roads and bridges, by encouraging domestic manufacturing, and by funding the development of green energy that will cut greenhouse gas emissions and create jobs at the same time. I fully support all of these policies and will work to continue and broaden them if elected.
If one person doesn't pay their fair share of taxes, then the rest of us have to make up the difference. That's why I will work to prevent tax avoidance so we can all have a lower tax burden, while fully funding our priorities.
I grew up in a small town, and my mom was from an even smaller town. I understand how rural communities can be cut off from important opportunities, and how that impacts young people living there. That's why I support extending broadband internet access to every rural community, so they feel "plugged in" to the rest of the world. It's already happening thanks to President Biden, and I want to make sure it gets completed.
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