Economy
One month into the 118th Congress, we are forging ahead with our Commitment to America.
Christmas is going to look different for many Americans because of ongoing supply chain challenges and soaring inflation. We have seen shortages of items such as appliances, jewelry, electronics, holiday food items such as turkey, and even Christmas lights and trees.
A month from now, we will welcome a new year and a new Congress with a new majority. For the 118th Congress House Republicans have put forward our Commitment to America agenda.
In October, Creighton University’s nine-state Mid-American Economy Report showed the survey’s Business Confidence Index reached its lowest level since March 2020. This is a far cry from the promises of a thriving economy President Biden made as a candidate before taking office.
As American families continue to battle historic inflation at 8.2 percent, Nebraskans are feeling the pain every time they reach for their wallets. According to the Joint Economic Committee, households in Nebraska are spending an extra $759 each month, or more than $9,000 annually, because of inflation.
From rising inflation to spiraling energy prices to unaccountable schools and rising crime in many parts of our country, America is on the wrong track. That’s not just my opinion. According to the RealClearPolitics average on nine regular surveys of public opinion, more than two-thirds of Americans – 66.9 percent – feel this way.
According to a recent survey, 60 percent of Americans are living paycheck to paycheck, and 71 percent of workers feel their pay isn’t keeping up with the cost of living. The numbers bear this out – 6.2 percent wage growth alongside 8.3 percent inflation means that Americans’ paychecks are worth 2.1 percent less than they were at this time last year.
August’s Consumer Price Index shows inflation continues to rise. Prices for consumer goods have risen across the board – especially necessities like food and shelter.
Washington, D.C. – Today, Rep. Adrian Smith’s (R-NE) legislation, the Permanently Preserving America’s Investment in Manufacturing Act, was named one of National Taxpayers Union’s (NTU) No Brainer bills for 2022. Each year, NTU releases a “No Brainer” list of commonsense bills Congress should pass.
A common refrain I hear from employers across Nebraska’s Third District is how difficult it has become to find workers to fill the job openings they have. As the unemployment rate rose to a six-month high of 3.7 percent in August, according to the Bureau of Labor Statistics, the number of job openings in America sits at roughly 11 million. Job openings in the U.S.