Posted on 05/20/2022 11:36:35 AM PDT by EBH
Or you can buy the only grocery item that’s apparently inflation-proof: 99-cent AriZona iced tea.
Context The annual Inflation rate currently stands at a 40-year-high of 8.5%, the highest level of inflation since December 1981. As prices surge, two categories have particularly hit Americans’ wallets.
One is fuel, which reached an all-time record national average of $4.33 per gallon in mid-March, and fuel still remains at a near-high $4.12 per gallon as of this writing. Another is food, which as of February had experienced 7.9% year-over-year inflation.
What the bill does The Food and Fuel Family Savings Act would give millions of Americans $600, to be used only for food or gasoline. The amount of the credit would also be reduced for those making above $40,000.
Children and dependents wouldn’t receive the money directly, but those who claim them as dependents would receive an additional $600 for each dependent. Non-citizens would be ineligible for the funds.
The bill was introduced in the Senate on April 7 as S. 4060, by Sen. Jack Reed (D-RI).
What supporters say Supporters argue the legislation provides much-needed relief on two key spending areas as prices surge, shielding the most disadvantaged from much of the economic effects.
“Hard-working Americans are not at fault for these global price pressures,” Sen. Reed said on the Senate floor when introducing the bill. “Yet these households, which often put a large share of their income towards basic necessities, are being forced to bear the burden of higher costs.”
“The average American household would receive $1,500. Using estimates from [economists], this payment should cover the additional $183 the average family will spend each month on food and fuel for the rest of 2022,” Sen. Reed continued. “In other words, our legislation would ensure households can put food on the table and gas in the car this year.”
What opponents say Republican opponents counter that this legislation is a Band-Aid that doesn’t cover the biggest source of inflation: surging government spending enacted by congressional Democrats. Indeed, this bill would add more such government spending.
Inflation “[gets] worse, in my view, if we do it the way the Democrats propose,” Sen. Rob Portman (R-OH) said on the Senate floor. “Because by adding more fuel to the fire — more stimulus spending, in this case, trillions of dollars — you’re going to stimulate more demand in the economy. And inflation happens when demand outstrips supply. So you have a lot of demand for something, but you don’t have the supply for it and it raises inflation.”
“And that’s exactly what many of us predicted would have happened back in March of [2021], when Congress did the same thing, $1.9 trillion. A lot of it was stimulus spending, and people said, ‘This is going to cause inflation,’” Sen. Portman continued. “And sure enough, it did. It wasn’t just me and other Republicans. It was some Democrats as well.”
Odds of passage The bill has attracted three cosponsors, all Democrats. It awaits a potential vote by the Senate Finance Committee.
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Some people just want to see the world burn. These people know this creates inflation.
So those making over 40K are not hard-working Americans?
The Federal Government gives the Tax Payer 600 dollars to be used for food.That food will most likely cost at least 1200 dollars by the time the tax payer gets the check as a result of the inflation.
Talk about being behind the 8 ball.
Sounds to me like for the most part these days, if you make under 40k, you are a hardly working American.
Butter is at least $1 a stick now.
Translation:
“We are a useless bunch of c___suckers, and even though our incompetence is screwing you over, we’re going to take more of your future money and give it to you to make us seem like we give more than 2 shi_s about you.”
Let’s just dump gas on this fire. That’ll help.
Ok. Crisco.
I heard a fanatic Col’s wife talk about the butter thing.
For this recipe, you don’t need salt, if you use salted butter. https://www.cooks.com/recipe/6s5pc9c7/julia-childs-perfect-pie-crust.html
We’re going to fix overspending by SPENDING MORE.
You’re welcome. :)
That was my thinking, also.
That’s spit.
That is not going to make any significant difference.
Communism
Just cut income tax by $15 a week
Going on a road trip soon. $600 won’t pay for the first week of diesel. Isn’t this Green New Deal great?
CASH for Dem voting blocks!
Don’t forget to mention they’d be fighting fires they started, with gasoline.
Supplies are down??
getting shafted again....just a little too much money after decades of work......
of course there will be consequences for bad actions but in the meantime, the middle class is being destroyed because the people that actually worked and saved and served this country get NOTHING...
Scorched earth. How I loathe these demons.
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