Runaway Inflation ‘Unlikely’ to be Reeled in Under Biden Administration, Experts Say

by Will Kessler   As long as President Joe Biden continues his high government spending policies, inflation is not likely to return to previously normal levels without seeing economic repercussions, according to experts who spoke to the Daily Caller News Foundation. The last time the Consumer Price Index (CPI), a…

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As Food Prices Soar with No End in Sight, Americans Change Habits

Americans are changing their shopping habits because of soaring food prices. And disruptions in the international farming community have some worried about the food supply heading into 2023.

The BMO Real Financial Progress Index, a quarterly survey from BMO and Ipsos, shows that 42% of surveyed adults “are changing how they shop for groceries,” including “opting for cheaper items, avoiding brand names and buying only the essentials.”

The report found “46% are either dining out less or consciously spending less when dining out.”

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Inflation Prompts Pennsylvania Legislators to Suggest Tax Holidays

Some Pennsylvania lawmakers are proposing that the commonwealth offset some of the inflationary burden on residents by pausing certain taxes.

One bill State Senator Lisa Boscola (D-Bethlehem) is currently drafting would stop sales taxation in June and July 2022 at a time the senator says the state can afford to do so. In a memorandum seeking co-sponsors for her bill, she cited Governor Tom Wolf’s (D) recent declaration that Pennsylvania will amass a budget surplus for Fiscal Year 2021-22 of over $2 billion and a similarly large surplus for the following year. Since budget years end on June 30, the legislation is thus timed to spread the financial loss to the state over both budget cycles. 

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