Click here or on the image above to watch Senator Capito’s floor speech.
WASHINGTON, D.C. — U.S. Senator Shelley Moore Capito (R-W.Va.) today led her Republican colleagues in discussing the record-high price hikes caused by President Biden’s failed policies. Senator Capito’s speech came moments after the Federal Reserve announced their eighth consecutive interest rate hike they had to deploy in order to curb the Biden administration’s two-year high inflation economy.
In a press conference yesterday, Senator Capito also discussed these price hikes, emphasizing the impact the inflated costs are having on families in West Virginia and across the nation.
INTEREST RATES: “An interest rate hike, once reserved as a measure that sends a direct signal to policy makers, is just another Wednesday in this president’s America.”
FOOD COSTS: “Whether it's a conversation with Senate colleagues, waiting in line at a store, or constituent calling my office, the cost of food remains a central topic of concern all across this nation.”
HOUSING: “In other words: new families and hardworking individuals who made smart financial decisions with the hope of purchasing a home can no longer pursue that dream because it's out of reach, it's unaffordable.”
ENERGY: “With cost like this becoming more mainstream – actually, gas is going up just recently. American families are having to choose again, keeping your lights on, filling your car with gas, or buying your groceries. This is not only unfair, but it's avoidable. It is avoidable for folks living in a country with as many resources as we have right here in the United States.”
MANUFACTURING: “The reality is, U.S. manufacturers may be on their way to a recession, and the downturn will likely deepen as purchasing power decreases and interest rates continue to rise, as they did today. This further demonstrates how out-of-touch the administration is from the devastating reality American businesses are grappling with.”
STORIES FROM WEST VIRGINIANS: “Jeremy in Raleigh County told me: 'my electric bill in my residence is double the cost of my mortgage every month. This is not sustainable. I will go bankrupt just trying to keep the lights on'. But this isn't just impacting Jeremy, because Jeremy is a great family man and a great friend, and he is trying to help his friends, neighbors and family pay their electric bills, as well. I'm continuously inspired by this kindness that I see, and the generosity of West Virginians towards one another, but it shouldn't have to come to this.”
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