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U.S. House of Representatives Committee on Ways and Means

10/27/2021 | News release | Distributed by Public on 10/27/2021 10:14

Thanks to Bidenflation, Gas Now 50 Percent More Expensive

Thanks to Bidenflation, Gas Now 50 Percent More Expensive

Bidenflation takes a bite out of Thanksgiving, too
October 27, 2021 - Blog - Press Releases - The Tax Tracker

With the New York Timesreportingthat "Thanksgiving 2021 could be the most expensive meal in the history of the holiday," families are also getting crunched on another expense: Gas.

Since President Biden took office, the price of gas is up more than 50 percent since last year, at $3.26 per gallon on average. Gas prices have increased every day for 27 days. Some Americans are even paying $7.59 a gallon.

Reminder: President Biden's first executive order killed the Keystone XL Pipeline as part of his war on energy-contributing to the massive spike in energy prices.

And he wants to go further, with more crippling taxes on energy.

Staying warm this winter will also cost a fortune. Accordingto the Wall Street Journal,millions of families who rely on propane to heat their homes will see prices soar:

"Even if this winter is 10% warmer than forecast, those who heat their homes with propane should expect a 29% bump, on average, the Energy Information Administration said this month. Under the agency's expected scenario, buyers could pay 54% more than the past few years.

"That increase equates to an extra $1,600 in the South, about $1,800 in the Midwest and $2,000 in the Northeast. If it is 10% colder than forecast, bills could nearly double, the agency said."

Bottom Line: More government spendingand higher taxes are the last thing American families need right now.

READ: Federal Reserve Official Warns of Inflation Risk Due to Biden Spending