CHARLESTON, WV (WOWK) — Record high inflation has many members of Congress wondering what to do about it.
Fueled by record-high gasoline prices, inflation stands at 9.1%. Energy costs have also driven up the prices of food, utilities and most other consumer goods.
Some members of Congress have called on President Biden to open up pipelines that were shut down to make the U.S. energy independent and a bigger exporter.
“We have an MVP pipeline in West Virginia that can’t get completed. We can’t get the natural gas to ports to liquefy it, to send it to help our European friends. So, I do think we are being very short-sighted here,” said Sen. Shelley Moore Capito (R) West Virginia.
Senator Capito says there should be no tax increases, and that Congress should prevent the President from getting any more big social spending plans, such as a revived effort to pass what’s been known as “Build Back Better.”
Inflation is now at its highest rate since November of 1981. If it continues, many economists worry the U.S. will go into a recession.