American families continue to face the effects of inflation that began during Joe Biden’s presidency, according to a statement released by Congressional Republicans. They assert that President Biden oversaw the largest spike in inflation in four decades, increasing costs for essentials such as food, housing, and transportation.
“Joe Biden may no longer be in the White House, but American families are still living with the consequences of his economic failures. President Biden presided over the worst inflation spike in 40 years, driving up the cost of food, housing, transportation, and necessities and left working families struggling to keep up,” reads the statement.
Republicans say that since taking office again, President Trump and their party have worked to address these issues by “cutting costs, raising wages, lowering interest rates, and rebuilding the strongest economy in the world.”
They cite several statistics about inflation under Biden: cumulative inflation reached 20%, outpacing wage growth for many Americans; inflation peaked at 9.1% in June 2022; and when Trump left office previously, it was at 1.4%. They also claim that by the end of Biden’s term families paid 20% more for basic goods and services and that workers lost more than $2,900 in real purchasing power due to high prices.
Republicans argue that Democratic policies made matters worse. “Democrats didn’t just cause Biden’s inflation — they compounded it. Their reckless government shutdown inflicted real economic pain and derailed early recovery efforts,” they state.
According to Republicans’ release citing Congressional Budget Office data, a government shutdown attributed to Democrats reduced GDP by one or two percent and resulted in $7–14 billion in direct economic losses.
They contrast this with what they call an ongoing “Trump recovery.” The release claims real wages have increased nearly $700 so far under Trump’s new term—projected to rise by $1,200 within his first year—and notes $9 trillion has been attracted from new U.S. and foreign investment. It also points to regulatory rollbacks saving Americans $180 billion collectively.
Tax policy changes were highlighted as well: “President Trump and Congressional Republicans also secured the largest tax cut in American history… No Tax on Tips… No Tax on Overtime… New, targeted tax relief for seniors — ensuring Social Security goes further.” The statement claims these provisions could boost wages by as much as $11,600.
The document summarizes its position with: “Joe Biden and Democrats left behind: 20% cumulative inflation; 40-year inflation highs; 23-year high interest rates; $2,900 in lost purchasing power; a nationwide affordability crisis. President Trump and Congressional Republicans are delivering: Lower prices; Higher wages; Record take-home pay; Historic tax cuts; Lower interest rates; A stronger, more stable, more affordable America.”
Mike Johnson is currently serving in Congress representing Louisiana’s 4th district after replacing John Fleming in 2017. He previously served from 2015 to 2017 in the Louisiana House of Representatives. Johnson was born in Shreveport in 1972 and lives in Benton. He graduated from Louisiana State University with both a BA (1995) and JD (1998).
