McClain to Hold Subcommittee Hearing Examining Impacts of Spending-Induced Bidenflation Crisis on Americans

WASHINGTON—Subcommittee on Health Care and Financial Services Chairwoman Lisa McClain (R-Mich.) will hold a subcommittee hearing titled “Inflation: A Preventable Crisis” to examine the inflationary crisis brought on by Democrats’ reckless government spending, how record-high inflation has impacted Americans and the economy, and policies to prevent future inflationary crises.

“The Biden Administration and Congressional Democrats’ trillions of dollars in rushed spending under the American Rescue Plan drove inflation to a 40-year high. Even President Obama’s own economic advisor, Larry Summers, warned that this law would trigger the highest inflation in more than half a century. As a result, American families and workers are spending more on gas and groceries, delaying retirement and medical care, and struggling to pay rent and bills. The Biden Administration has ignored the damage it has done to the economy for far too long, and it is time they are held accountable. I look forward to hearing from experts to better understand how this crisis could have been prevented, and what the Biden Administration must do to address it,” said Subcommittee Chairwoman Lisa McClain.

WHAT: Hearing titled “Inflation: A Preventable Crisis”

DATE:  Thursday, March 9, 2023

TIME: 2:00 PM EST

LOCATION: 2247 Rayburn House Office Building

WITNESSES:

• Dr. Douglas Holtz-Eakin, President, American Action Forum
• Dr. John B. Taylor, Mary and Robert Raymond Professor of Economics, Stanford University

The hearing will be open to the public and press and will be livestreamed online at https://oversight.house.gov/. Press must be congressionally credentialed and should RSVP by emailing oversightgoppressrsvp@mail.house.gov.