With reports of inflation soaring to its highest rate in thirteen years, many Iowans and Americans are rightfully concerned about the state and future of our economy.
According to a recent survey conducted by CNBC, 46 percent of Americans believe the economy will continue to decline throughout the next year, and many are already seeing higher prices at the gas pump and in the grocery stores.
Though all Americans are feeling the adverse effects of rising costs many of my own constituents who play an integral role in feeding the world, are among those who bear the largest burden.
I am sure many of you have felt this financial burden by simply filling your car up to get to work. Just in the past two weeks, the price of gasoline in the U.S. has increased 13 cents per gallon and is averaging $3.39 across the country. The costs this puts on rural America during the harvest season are unacceptable, especially for farmers and agricultural transporters.
And for the thousands of mostly rural Iowa families who rely on propane to heat their homes, their average heating bills are estimated to increase by 69 percent over the cost of last year due to skyrocketing propane costs.
With the holiday season approaching, which would traditionally provide a boost to our economy, I am concerned that consumers’ lack of trust in the Administration’s handling of the economy, coupled with rapid inflation, will lead to more Americans holding on to their money instead of investing it. This will further harm our economy, small businesses, workers, and our supply chain.
As Americans are increasingly paying more at the gas pump and the grocery store, I encourage the Biden Administration to consider the impact their economic policies have on rural America, farmers, small business owners, workers, and ordinary Americans and practice more fiscally responsible principals as we have done in Iowa.
Mariannette Miller-Meeks is currently representing Iowa’s Second District in the United States House of Representatives.