Chuck Grassley: THE Inflation Fighter on his Plan to Help Fight Inflation
WEST DES MOINES – Senator Chuck Grassley joined Larry Kudlow on Fox Business yesterday to discuss his newly introduced legislation to help fight the record-high inflation resulting from President Joe Biden’s bad policies.
Grassley said, “I get my policy ideas from my county meetings. I’m hearing at my county meetings that 8.6 percent inflation and the big increases in gas are eating up everybody’s income and it’s diluting their savings. So we’ve got to do more to encourage people to save.”
The legislation introduced by Grassley would make it pay to save by expanding the size of the lowest tax bracket (zero) for most middle-class savings and investment incomes. On the other hand, Democrats are suggesting a sweeping tax hike to continue their reckless tax-and-spending spree.
“I’m doing this because the terrible inflation that I’m hearing from Iowans is hurting the middle class,” Grassley continued.
Kudlow praised Grassley’s legislation as a “totally fabulous, super fabulous idea.”
In response to Biden calling for an excess profit tax on oil and gas, Grassley told Kudlow, “What I hear from my constituents in Iowa about high gas prices comes directly from the president shutting down pipeline building, stopping drilling on public lands and offshore, and putting increased regulations on fracking, and then telling the banks not to loan to energy companies. What do you expect?”