Rep. Ted Budd on Tuesday introduced legislation that would require every member of President Biden‘s staff to take a financial literacy course on inflation before the White House could receive further funding.
Mr. Budd, a North Carolina Republican running for the U.S. Senate, hopes to have the requirement incorporated in the upcoming appropriations bill for the Executive Office of the President (EOP).
The EOP consists of the White House offices and agencies that execute the president’s agenda, including the National Economic Council and the Office of Management and Budget.
Mr. Budd told The Washington Times that he was compelled to offer the legislation because inflation has “grown into a full-blown crisis” since Mr. Biden took office.
“Consumer costs have risen by the highest rate in 13 years, and it’s eating away at the buying power of every single North Carolinian,” Mr. Budd said. “In the end, inflation is a tax that is directly caused by reckless spending under Biden.”
Earlier this month, the Labor Department reported that consumer prices jumped nearly 1 percentage point between May and June of this year alone.
More troubling, prices have skyrocketed roughly 5.4% over the past year — the biggest one-year jump in inflation since August 2008.
A recent survey by the Morning Consult found that more than one-third of adults believe they are now spending more on groceries than they did at the start of the year.
