NW Kentucky News

Subcommittee on Economic Growth, Energy Policy, and Regulatory Affairs Chairman Pat Fallon (R-Texas) opened a hearing titled “Kitchen Table Economics: How Failed Biden-Harris Policies Continue to Hurt Consumers” in Washington. He outlined the negative impacts of Biden-Harris economic policies on American workers and families.

Fallon began his remarks by questioning if Americans are better off now compared to four years ago. He stated, "Vice President Harris struggles to answer this question," implying that many Americans would respond negatively.

He criticized the Biden-Harris Administration's economic approach, stating, “As we discussed in this subcommittee a year ago, ‘Bidenomics’ has had a devastating effect for families across this country and their ability to plan for the future.” Fallon pointed out that inflation has risen 20.2 percent since the administration began, requiring Americans to spend over $11,000 more annually to maintain their quality of life.

Grocery prices for items like bread, poultry, and cereal have increased by over 20 percent, with eggs nearly 50 percent higher. Gasoline prices have also surged by almost 50 percent. Housing costs have risen significantly as well; average rent prices are up more than 24 percent and mortgage rates have doubled.

“Real wages for workers are also lower since the start of the Biden-Harris Administration,” Fallon added. He noted that businesses face $1.7 trillion in new regulatory costs imposed by the administration.

The Committee released a report titled “Death by a Thousand Regulations: The Biden-Harris Administration’s Campaign to Bury America in Red Tape.” Fallon requested unanimous consent to enter this report into the record and it was granted without objection.

Fallon criticized recent legislative measures such as the “Inflation Reduction Act” and the “American Rescue Plan,” claiming they did not achieve their intended goals but instead exacerbated economic issues. Despite these challenges, Vice President Harris maintains that “Bidenomics is working.”

“The other side of the aisle wants to obscure the truth,” said Fallon regarding claims that corporate greed is driving inflation rather than government policies. He stressed the need for transparency and accountability from the administration.

Fallon concluded by emphasizing accountability: "We will hold the Biden-Harris Administration accountable for these hidden taxes on consumers." He expressed frustration among Americans who feel unheard regarding economic concerns.

An expert panel was present at the hearing to discuss these issues further and offer solutions. Fallon thanked them for their participation and insights.