House Republicans are demanding the Democratic majorities in Congress launch a bipartisan investigation into soaring inflation, which the GOP says would be more productive than demonizing businesses for rising prices.
GOP lawmakers, led by Rep. Michael Cloud of Texas, sent a letter to House Oversight Committee Chairwoman Carolyn Maloney on Tuesday, urging her to convene public hearings on the matter.
“Inflation reached a 40-year high in January of 2022, increasing by 7.5 percent in the last year,” the lawmakers wrote. “Republicans on this committee have pointed out numerous times that there are ample areas for legitimate oversight that you continue to ignore.”
A copy of the letter was obtained exclusively by The Washington Times.
Mrs. Maloney, New York Democrat, has pushed the committee in recent months to investigate the rise in consumer prices, especially in industries like meat processing. Republicans say these probes, billed as exposing “predatory practices,” have only served to demonize small businesses and downplay President Biden’s role in exacerbating inflation.
“Ultimately, this investigation is merely a veil designed to give the committee cover for abdicating its responsibility to investigate this Administration and its policies,” they wrote.
GOP lawmakers say that if Democrats are serious about tackling inflation and have confidence in Mr. Biden’s policies, they should welcome public hearings.
“If this committee wants to lower the cost of living for Americans, there are several areas on which we need to focus,” they wrote. “The committee should investigate the Biden Administration’s policies on oil and gas production, which are causing the price of electricity and gas to increase.”
The House Oversight Committee’s Democratic majority did not respond to requests for comment.
Earlier this month, the Bureau of Labor Statistics reported that inflation skyrocketed by 7.5% over the past year. The climb in prices is the steepest since 1982.
Democrats have struggled with how to respond. Some, like Mr. Biden and Mrs. Maloney, have blamed businesses for boosting prices during the coronavirus pandemic and the supply chain crisis.
Source:Washington Times
