Bilirakis Takes to the House Floor to Discuss Growing Economic Crisis

Washington, D.C.: This week, Representative Gus Bilirakis implored his colleagues and President Biden to take notice of the fact that the nation's economy is spiraling into a worsening crisis. Noting many signs of an economy headed in the wrong direction, Bilirakis referenced the impact on his constituents throughout Tampa Bay. "My constituents are paying more today than they were a year ago for basic goods, like milk, gas, and bread. In fact, the national average price for a gallon of gas recently reached $3.22, more than one dollar higher than it was a year ago, and the highest price since October of 2014." According to Moody's, the current inflation rate has forced American households earning the US median income of about $70,000 annually to spend another $175 a month on food, fuel, and housing.

Noting recent reports indicating that core inflation is at a 30-year high, Bilirakis warned of the dangerous effects of inflation on Americans. "Inflation is an invisible tax on all Americans, and it especially hurts seniors living on a fixed income. Alarmingly, inflation has gone up every month since President Biden has been in office due to out-of-control government spending, which serves to fuel inflation. Small business owners, who are the backbone of our economy, are having a very difficult time recovering from the pandemic. They are facing labor and material shortages. And, they are also dealing with the same inflationary pressures that all Americans are experiencing. In a recent survey of small business owners in my district, 88% of respondents said that inflation has negatively impacted their business, forcing many to raise prices."

Bilirakis noted that some of his colleagues appear to believe more spending is the answer, as evidenced by the $4.3 trillion spending plan coupled with a $1.5 trillion "Infrastructure package"- both of which are filled with pork spending. For example, the spending bill contains, $2 billion for job training in climate careers, $7.5 billion to create a Civilian Climate Corps to promote the Green New Deal, $4 million to develop environmental justice initiatives, $150 million for species protection, $6.8 billion in housing grants available to felons convicted of domestic violence or hate crimes, $100 billion for 10 million illegal immigrants, and $200 million for a park in San Francisco.

"We need to invest in traditional infrastructure such as roads, bridges, internet connectivity, and cybersecurity," said Bilirakis. "However, a very small percentage of the proposed infrastructure package funds these types of essential projects, which is wrong. Despite claims to the contrary, these packages would raise taxes on every American family, not just the rich. They will kill American jobs and make us less competitive in the global marketplace. More frivolous Washington spending is just the wrong approach to fixing our problems. It will only make matters worse."

Bilirakis urges his colleagues to take heed of the warning signs and to take immediate action to address rising inflation. Simply put… the dangerous path Washington is on will not grow the economy; it will only continue to grow inflation. We need to work together to restore our way of life, rebuild our economy and renew the American Dream."

To listen to the speech in its entirety, click here.