PIERRE S.D. (MITCHELLNOW) Senator John Thune spoke on the Senate floor recently outlining the scourge of inflation. Thune pointed out that inflation has risen by 19.9% since 2020. Thune listed a number of products and services where inflation has eaten up Americans disposable income; groceries up 21.3%, car repairs up 30.2% and rents increasing 20.8% all since President Biden took office.
Thune says that Americans need twice the income than they did four years ago in order to afford a typical home. He cited a poll of renters under the age of 50 who feel they will never be able to afford their own home.
Senator Thune called on the Biden Administration to restrain government spending, to quit enacting onerous regulations and to maintain the tax cuts passed in 2017 which are set to expire soon.