Members of Congress from both parties sounded the alarm Thursday after new data showed inflation hit a 40-year high in January.
Moderate Democratic Sen. Joe Manchin of West Virginia, who cited fears about the impact on inflation when he torpedoed President Biden’s $2 trillion social spending bill in December, said in a statement that families across America are paying the “inflation tax.”
“Inflation taxes are draining the hard-earned wages of every American, and it’s causing real and severe economic pain that can no longer be ignored,” Manchin said.
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