WASHINGTON, Aug. 26 -- 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 July reading of the Personal Consumption Expenditures (PCE) price index, showing core inflation holding at 3.3 percent, and the second estimate of Q2 2026 gross domestic product (GDP), showing GDP grew at 1.5 percent on an annualized basis:
"After a $10 trillion spending spree by President Biden and Congressional Democrats that caused the cost of living to rise over 20 percent, President Trump and Republicans have been laser focused on bringing inflation under control and making life more affordable. Today's dat...