WASHINGTON, Sept. 30 -- The House Ways & Means Committee Chairman issued the following news release:
WASHINGTON, D.C. - Ways and Means Committee Chairman Jason Smith (MO-08) released the following statement after the release of the August reading of the Personal Consumption Expenditures (PCE) price index, showing core inflation holding at 3 percent, and the third estimate of Q2 2026 gross domestic product (GDP), showing GDP grew at 2.2 percent on an annualized basis:
"At its peak under the Democrats' failed leadership in the Biden Administration, inflation was nearly double what it is today. A reckless $10 trillion Democrat spending spree drove up the cost of groceries, gas, and housing, leaving working families unable to keep up as their...