INFLATION IS STILL RISING Assembly Column Will Barclay
Across the state and the nation, people are in shock as inflation continues to climb. The Consumer Price Index, which measures the cost of dozens of items Americans use every day, rose 7%. It is simply unsustainable.
Naturally, rising inflation hits low- and middle-income families the hardest. People on fixed incomes, such as the elderly, are particularly vulnerable. For example, housing costs, which account for almost a third of all costs measured in the data, increased by 4.1% last year. This pace marks the fastest spike in nearly 15 years.
The truth is, New York’s leaders have plenty of capacity to provide help during this volatile economic time, but they seem unwilling to tackle it head-on or offer solutions. Even the Governor of California has offered to suspend a planned gasoline tax increase in an effort to keep prices in check. New York Democrats did nothing.
Among the items that this tax relief would impact is gasoline, which would decrease by 8 cents per gallon under our proposed reductions. In addition, cleaning products, such as laundry detergents and disinfectants, and personal care items, such as shampoo and soap, would cost 4% less under our plan. In total, the additional costs linked to this historic inflation cost New York families hundreds of dollars every month. This money, at a time when economic uncertainty has seeped into all facets of our personal and professional lives, is essential.
Majority conferences, which have shown no hesitation in taxing New Yorkers at will and spending the public’s hard-earned cash, continue to sit idly by during this historic spike. Our lecture offers a simple and straightforward solution to this spiraling problem. It is high time they introduced this bill and gave our residents the help they clearly need.