Sen. Rob Portman (R-Ohio) predicted on July 13 that inflation will soon hit double-digit figures if President Joe Biden and congressional Democrats move forward with their plans to boost taxes on most Americans.
“We just got the numbers this morning for Ohio—$8,300 bucks a year in additional spending on energy, on food, on utility bills generally, and on clothing.” Portman’s $8,300 figure is based on data from January through June and projected to the end of the year.
“This is something that unfortunately is going to get worse, not better, unless we change policies,” he said. Extrapolating the current inflation figure to the rest of the year produces an annual rate of 16.1 percent, he said….
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