Economy
For more information concerning work and views related to Economy, please contact our office.
More on Economy
Recently I joined several of my colleagues at a roundtable hosted by the Energy, Climate, and Conservation (ECC) Task Force to discuss proven solutions to help build resilient communities around our country by, in part, effectively addressing threats of storms, floods, wildfires, droughts, and more.
This month I had plans to spend the August district work period connecting with folks in the Third District to hear their concerns and discuss the challenges Nebraskans face. Being called back to Washington for a vote on an ill-conceived, dead-end tax-and-spend package was not on my agenda.
A recession is the worst time to raise taxes, yet here we are again – fighting against a tax-and-spend agenda. Last week, new government data show what American families have been feeling for months now: we are officially in a recession. The U.S. economy shrank by .9 percent in the second quarter of the year, the second consecutive quarter of negative growth.
As families begin to think about back-to-school purchases, Americans received a series of bad news about the economy this week. According to analysis by Deloitte, back to school shoppers will spend, on average, a whopping $661 per student shopping for supplies. Compared to 2019, this is an increase of 27 percent, and compared to 2021, an increase of 8 percent.
As Vladimir Putin's invasion of Ukraine continues with no end in sight, it is as important as ever for the U.S. to strengthen our ties with allies in the region. Standing in solidarity with states at risk of Russian aggression requires us to send a clear message we are working on behalf of the friends of freedom and economic prosperity.
As the American people continue to suffer under President Biden's broken economy, disconcerting data in the latest jobs report from the Bureau of Labor Statistics (BLS) showed June as having the weakest overall job growth in the last 14 months. The data also revealed the workforce participation rate is decreasing at a time when employers need workers most.
As a member of the Republican Jobs and the Economy Taskforce, I am committed to promoting America's economic recovery; however, concerns of a recession continue to mount due to President Biden's mismanagement of the economy. The June jobs report from the Bureau of Labor Statistics shows the weakest overall job growth since April 2021.
As our nation celebrates Independence Day, the grocery bill for cookouts and picnics is hitting the budgets of American families harder this year. The American Farm Bureau Federation calculated U.S. consumers are paying 17 percent more for standard Fourth of July fixings than last year. Furthermore, soaring gas prices are limiting summer vacation plans and travel.
The importance of a strong agriculture economy to the state of Nebraska and our entire nation cannot be overstated. Often overlooked in policy conversations, the products supplied by farmers and ranchers are fundamental to fueling our lives, filling our plates, putting shirts on our backs, and so much more.
American families across the country are grappling with increasing costs and economic uncertainty. Last week, the Consumer Price Index confirmed costs of household items, energy, and services have risen by more than 8 percent, on average, over the last 12 months.