June’s Consumer Price Index bodes well for working New Yorkers
NEW YORK – Today, The Bureau of Labor Statistics released June’s Consumer Price Index data, showing inflation has slowed to just 0.2 percent. These positive trendlines come nearly a year after the Inflation Reduction Act went into effect, following the implementation of the CHIPS and Science Act and the Infrastructure Investment and Jobs Act. Together, these bills and other measures have brought New York more than $10 billion in federal infrastructure funding and over $43 billion in private investment, resulting in the creation of tens of thousands of high-paying jobs across the state.
Despite this windfall, House Republicans are currently poised to introduce a trio of bills that expand on Trump’s tax cuts for the wealthy and corporations while repealing large swaths of the Inflation Reduction Act. New York Representatives Marc Molinaro and George Santos are both expected to support the package, which “would mostly benefit the richest one percent of Americans and foreign investors,” according to the Institute on Taxation and Economic Policy.
“Today’s inflation report is incredibly promising, offering hope to New Yorkers struggling with rising costs,” said Maria Martinez, Executive Director of Empire State Voices. “However, our Representatives in Congress should be focused on continuing to improve the economic reality of working people rather than supporting legislation that offers massive handouts to the ultra-wealthy, corporations, and foreign investors at the expense of everyday New Yorkers.”
To learn more about the campaign, please reach out at press@empirestatevoices.org
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About Empire State Voices
Empire State Voices (ESV) is a multi-year campaign dedicated to amplifying the voices of everyday working New Yorkers. ESV is fighting for economic policies that make life more affordable for constituents and holding members of Congress across the state accountable when they fail to do the same.
