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Wednesday, November 6, 2024

Cruz: 'Biden's inflation tax is costing the average household an extra $433 per month'

Gas

The average American is expected to pay $704 more at the pump than they paid in 2021. | Gustavo Fring/Pexels

The average American is expected to pay $704 more at the pump than they paid in 2021. | Gustavo Fring/Pexels

In a recent poll by the Senate Opportunity Fund (SOF), only 3 in 10 Americans said they believe President Joe Biden and Democrats in Congress are doing enough to curb rising inflation rates.

The SOF poll was conducted March 15-17 and surveyed 800 Americans likely to vote in the general election.

A majority 61% of the SOF poll's respondents said the administration is not doing enough to curtail inflation. This includes 75% of respondents who identified as conservatives, 58% of respondents who identified as moderates and 39% of respondents who identified as liberals.

"President Biden's inflation tax is costing the average household an extra $433 per month or $5,200 per year. #Bidenflation," Sen. Ted Cruz (R-TX) said in a tweet.

While overall annual inflation is nearly 8%, gasoline has gone up 38% in the 12 months ending in February, the U.S. Bureau of Labor Statistics reported.

Gasoline is a leading driver of consumer inflation. As gas prices continue to be at record-high levels across the nation, the average American is expected to pay $704 more at the pump than they paid in 2021, Metro Business Daily's Gasoline Misery Index reported.

Sens. Jon Ossoff (D-GA) and Raphael Warnock (D-GA) helped pass the $1.9 trillion COVID-19 relief package in March 2021, alongside other Democratic colleagues. 

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