RNC STATEMENT ON BIDEN’S BUSINESS ROUNDTABLE

WASHINGTON – Today, Republican National Committee (RNC) Spokesperson Nathan Brand released the following statement on Joe Biden’s attendance at the Business Roundtable meeting:

“Americans are struggling from the burden of Biden’s Gas Hike, rising prices, and an economy leaving too many small businesses behind. Biden and the Democrats decimated small businesses with job crushing mandates and lockdowns, and are now burying them with skyrocketing prices for nearly everything.”

Background:

• February’s Consumer Price Index surged by 7.9  percent compared to last year – exceeding economists’ expectations and reaching a new 40-year high.
  • Core consumer prices – excluding food and energy – rose by 6.4 percent since last year, the largest increase since  August 1982.
  • Many of the price increases in this index were the highest ever recorded by the federal government.
  • Real average hourly earnings fell 2.6 percent in February, with  inflation eating up any wage gains.
• February’s Producer Price Index rose by 10 percent since last year, the highest increase on  record.
• This is the eleventh consecutive month producer price increases have hit record highs.
• Core producer prices – which takes out food and energy – also increased at a near record 8.4 percent.
• In some parts of the country, gas prices are now over $7 a gallon. 
• The average American household will potentially be forced to spend an additional $2,000 on gas this year because of Biden’s gas hike.
• U.S. gas prices have reached their highest level ever recorded.