Congressional Republicans grabbed headlines this week after releasing an aggressive budget they say would cut taxes and spending, but key measures in the plan also would address one of the country’s most serious economic problems.
The House’s Republican Study Committee released a budget that lays out several measures to deal with inflation, a growing concern among economists after the latest federal data showed a spike in consumer prices. Notably, the index for used cars and trucks rose 10%, the largest one-month increase since BLS began recording the data in 1953. Food and energy costs rose 0.9% in the month of April, prescription drugs rose 0.5%, and gasoline rose 1.4% during the same month. The energy cost index rose 25% in the previous 12 months.
Republicans on the committee say their plan would address concerns over inflation by balancing the budget within five years, thereby eliminating the need to monetize debt, a process where the federal government prints money to make payments on what it owes. The national debt has soared to more than $28 trillion and is expected to continue climbing under President Joe Biden’s new spending plans.
Last summer, millions of dollars in taxpayer money were spent in response to protests that turned violent throughout Ohio. A bill proposed in the Ohio Senate looks to make sure those responsible will pay for it.
Senate Bill 41, currently being discussed by the Senate Judiciary Committee, calls for restitution from those who are convicted of property damage during riots, including vandalism. The restitution would pay the expenses of police and emergency crews who have to respond to riots. The bill also allows the government to take possession of any property left behind by those who end up convicted.
State Senator Tim Schaffer, R-Lancaster, is sponsoring the bill. Lou Tobin, the Executive Director of the Ohio Prosecuting Attorneys Association, offered his support before the committee recently.
Ohio Governor Mike DeWine formally called for a state of emergency Thursday in counties across Ohio. The decision was made in response to excessive rainfall that resulted in severe flooding in 20 separate counties. According to the Emergency Proclamation, from Feb. 5th to Feb. 13th “Severe storms and excessive rainfall resulting…
by Hanna Bogorowski The American Farm Bureau Federation’s annual survey on the price of traditional Thanksgiving foods revealed a drop in the average price of dinner for families. “Since 2015, the average cost of Thanksgiving dinner has declined steadily and is now at the lowest level since 2010,” AFBF…