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Sarah Silbiger/Getty Images The Republican Study Committee is urging the GOP to tie inflation concerns to Biden s spending, Axios reports. Their memo uses year-over-year comparisons to show inflation rapidly accelerating amid reopening. The problem is May 2020 was lockdown, when prices sat well below their previous highs. Republicans are doubling down on their claims that President Joe Biden s spending risks an inflation crisis. Yet their latest argument relies on data that makes an irresponsible comparison between today s prices and those seen one year ago. House Republicans are set to ramp up concerns over inflation and connect soaring prices to the Biden administration s spending efforts. In a memo first reported by Axios Alayna Treene, Rep. Jim Banks of Indiana urged fellow party members to tell voters that inflation is Democrats hidden tax on the Middle Class and that additional spending would only exacerbate the problem.

United statesAxio alayna treeneJerome powellJoe bidenRepublican study committeeFederal reservePresident joe bidenJim banksChair jerome powellDemocrat marchJim banksRepublican study committeeHouse republicansNflation outlookEconomic recoveryEconomic data