Biden will criticize Republicans as having no plan on inflation


U.S. President Joe Biden arrives to deliver a speech on expanding high-speed internet access, during a Rose Garden event at the White House in Washington, U.S., May 9, 2022. REUTERS/Kevin Lamarque /File Photo

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WASHINGTON, May 10 (Reuters) – U.S. President Joe Biden will use an inflation speech on Tuesday to try to turn his Democratic Party’s top policy responsibility ahead of congressional elections later this year into an attack on his Republican opposition.

As Americans worry about a spike in inflation that has pushed annual consumer prices up more than 8%, the president will highlight steps taken by his administration to curb inflation, including the release of oil from strategic oil reserves and pressure on companies to deliver record profits to consumers. in the form of lower prices.

He is not expected to announce any new policy measures in the speech, which comes a day before new consumer price data shows inflation remained elevated through April.

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Inflation

But Biden is expected to step up his attacks on Republicans six months before the Nov. 8 congressional election, where Democrats hope to retain control of the Senate and House of Representatives.

“Republicans love to use inflation as a political talking point, but does anyone have any idea what their plan is to bring prices down?” said a White House official who asked not to be named.

Demand spurred by government spending and savings accumulated during the COVID-19 pandemic has failed to keep up with creaky supply chains and labor shortages, driving up the inflation on a global scale.

This has created a political problem as American consumers face higher grocery and gas bills, exacerbated by measures blocking Russian oil and gas after the invasion of Ukraine, an action that Russia calls it “a special operation”.

According to a Reuters/Ipsos poll last week, less than half of American adults – 44% – approve of Biden’s handling of the presidency and see the economy as the country’s most important issue.

Republicans are working to capitalize on the issue in congressional elections, pushing for measures such as loosening regulations on oil and gas producers as well as cutting some taxes and government spending. But the party has not approved any policy documents outlining the measures it would take against inflation.

Biden has stepped up his attack on Republicans in recent days, including calling former President Donald Trump’s “Make America Great Again” movement extreme. Read more

“Voters know that Republican-led states are leading the way in economic recovery and job creation, and will vote for Republicans and our proven platform in November,” said National Committee spokeswoman Emma Vaughn. republican.

REPUBLICAN TAX PLAN

Biden also plans to take aim at a “Rescue America” proposal from Rick Scott, the U.S. senator from Florida, which includes a federal minimum income tax that the White House says would cost middle-class families $1,500 a year. .

Scott said the plan was uniquely his, despite his role as chairman of the Republican National Senate Committee, the campaign arm of the Senate Republican caucus. Senate Republican Minority Leader Mitch McConnell rejected Scott’s calls to tax Americans who don’t pay income tax and cut off their Social Security and Medicare entitlements.

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Reporting by Trevor Hunnicutt; Additional reporting by David Morgan; Editing by Kenneth Maxwell, Heather Timmons and Paul Simao

Our standards: The Thomson Reuters Trust Principles.


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