WASHINGTON, June 25 -- 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 May reading of the Personal Consumption Expenditure (PCE) price index, showing core inflation rose 3.4 percent, and Q1 2026 gross domestic product (GDP) reading, showing GDP increased 2.1 percent on an annualized basis:
"Gas prices have fallen six weeks in a row as families are seeing the benefits of the Trump Administration's efforts to stabilize the Middle East. Lower energy costs will only continue to lower inflation from the 21 percent Biden price spike that made the cost of living unaffordable for working-cl...