Rep. JasonSmithMO told Breitbart News he believes the Republican debt ceiling plan would have a 'huge' impact on inflation.
House Ways and Means Chairman Jason Smith told Breitbart News in an exclusive interview on Monday that he believes the Republican debt ceiling plan would have a “huge” impact on inflation.
Smith said that he believes that Americans will see “much more progress” toward a debt ceiling deal this week, given Biden’s history of negotiating debt limit deals with Republicans. He continued, “Inflation was 1.4 percent in Joe Biden’s first month of office, and then they went on a $10 trillion spending spree which has led to inflation increasing the 14.9% since Joe Biden has taken the oath of office. The Limit, Save, Grow Act will cut spending by $4.8 trillion over the next 10 years with the spending caps; they will also rescind unobligated COVID dollars and also put work requirements to help with the labor shortage. All of these things will help decrease inflation.
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