Inflation
The following articles are for greater understanding of inflation:
Here’s What You Need to Know About America’s Super-Hot Inflation
Inflation Reduction Act, August 2022
CLICK HERE for a one-page summary of the Inflation Reduction Act of 2022.
How Oil and Gasoline Prices Actually Work
“It’s a big world, and we’re a part of it, and we don’t control things.”
By Aaron Gordon
March 21, 2022, 7:00am
Gas prices—and therefore oil prices—wield a tight grip on the American consumer psyche. No other commodity’s prices are tracked so closely, advertised so prominently, and hold such significance in the minds of the American people as gas prices. It is also a market few people understand.
When gas prices are low, people are pleased, or at the very least do not complain about gas prices. But when gas prices are high—which everyone immediately knows because they’re posted in giant signs at hundreds of thousands of public locations across the country—people get mad.
Recently, President Biden has taken to blaming oil companies for “padding their profits” by artificially increasing prices. The main point Biden and other folks calling out the oil companies make is that at the peak of the 2008 oil shock, a barrel of oil was going for about $132 a barrel and gas prices hit a high of $4.15 in the U.S., but now oil has peaked at around $103 a barrel—about $30 less than in 2008—but gas is going for $4.41 per gallon, almost 30 cents more than in 2008. Sen. Elizabeth Warren is reviving the idea of a new tax targeting oil profits. A CBS/YouGov poll showed most Americans are willing to accept higher gas prices for the time being, but a vocal minority is blaming Biden.
ACTIONS:
U.S. Representative, District 6, Jason Crow (term ending Jan. 2027,, jasoncrowforcongress.com)
Rep. Crow co-sponsored H.R. 2706 Freedom from Price Gouging Act which would prevent drug manufacturers from profiting off unreasonable price hikes. A similar bill was introduced in the Senate. The Congressional Budget Office estimated the taxpayers would save $10.7 billion over the next 10 years. Both bills were only introduced in each chamber.
County Commissioner, District 1, Carrie Warren-Gully (term ending Jan. 2029, carrie4commissioner.com) The ways we are working to ensure economic mobility is to have a strong and well-trained workforce. Our workforce development center, Arapahoe/Douglas Works! – helps prepare, train and connect job seekers for opportunities. This past year, we hosted over 100 hiring events and 20 job fairs and worked with 800 businesses and supported the launch of a new apprenticeship program that expanded to industries where people can earn while they learn, not only in the construction trades but areas such as cyber security, digital marketing, and horticulture. I am incredibly proud of this amazing program that will help improve the quality of life and financial stability for our residents and community members