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Congressman Scott Peters

Representing the 52nd District of California

ICYMI: Action Plan to Fight Inflation, Lower Costs Released by New Dem Coalition Led by Vice Chair Rep. Scott Peters

Jun 8, 2022
Press Release

WASHINGTON, D.C. — Today, the New Democrat Coalition (NDC) released a comprehensive action plan to fight inflation, lower the cost of living for Americans, and secure the long-term fiscal future of the nation. Rep. Scott Peters, who is Vice Chair for Policy of the NDC, which is the largest ideological caucus in Congress, led the effort to create the Inflation Working Group that crafted the plan. The new plan outlines specific steps federal policymakers can take to reduce prices on essential goods and services, and provide relief to American families, workers, and businesses.

“New Dems know that global inflation and rising prices are limiting Americans’ ability to pay for the essentials in their homes,” said Rep. Peters. “Our Coalition formed an Inflation Working Group to find concrete solutions to address this urgent challenge and an action plan with innovative ideas and steps to lower costs for families. With this plan, New Dems have the opportunity to lead the charge to make a difference in Americans’ lives and to invest in the long-term economic success of our nation.”

New Dem Leadership members today also wrote to President Biden and Congressional Leadership calling for the implementation of the Coalition’s plan to fight inflation. New Dems urged President Biden to roll back costly and ineffective Trump-era tariffs, address the workforce shortage, and work to lower costs on everyday necessities, including housing, energy, and health care. In Congress, New Dems are pressing leadership to quickly finalize a bipartisan innovation bill, negotiate a strong reconciliation bill focused on fighting inflation, and use every legislative week to advance an affordability agenda on the House floor.

President Biden and Congressional Democrats have made historic progress in getting Americans back to work, growing the economy, strengthening supply chains, and reversing decades of underinvestment in our nation’s infrastructure. However, this rapid economic growth along with lingering pandemic challenges and Putin’s unjust war in Ukraine have led to rising prices here at home and across the globe. In response, the NDC formed a first-of-its-kind Inflation Working Group that meets and works with economists, policy experts, and key stakeholders to develop and advance effective policy solutions to fight inflation.

Following months of hard work, the New Dem Inflation Working Group Members finalized a comprehensive action plan to tackle the urgent challenge of inflation. This plan takes a wide-ranging approach to lower prices by strengthening supply chains, addressing labor shortages, reducing trade barriers, and making everyday necessities more affordable.

“Thanks to President Biden and Congressional Democrats’ work on the American Rescue Plan and the Bipartisan Infrastructure Bill, we’ve seen record-setting economic growth, millions of Americans are vaccinated, kids are back in school, and people are back at work,” said Chair Suzan DelBene (WA-01). “But despite this progress, real economic challenges remain, and global inflation is hitting American families hard. That’s why the New Democrat Coalition created an Inflation Action Plan that outlines key actions Congress and the Biden administration can take to ensure Americans can afford everyday necessities – like food and gas. Americans sent us to Washington to deliver on the issues that matter most and tackle urgent challenges with effective solutions. As the ‘get stuff done’ caucus in Congress, that’s exactly what New Dems will do.” 

New Dems will work closely with the Biden administration and our colleagues on both sides of the Capitol and the aisle to execute this Action Plan to Fight Inflation to provide swift relief to families and set the American economy up for long-term success.

 

You can find the full NDC Inflation Action Plan here.

You can find the letter to President Biden here.

You can find the letter to Congressional leadership here.