Sen. Lee’s Detailed Plan to Fight Inflation

April 14, 2022

 

Salt Lake City – Senator Mike Lee (R-UT) was joined by Senator Dan Sullivan (R-AK) in Utah this week as they discussed the nation’s energy needs and rising inflation costs on American families.  The senators met with energy industry leaders, discussed the issues with local elected officials, and met with Utah families at a gas station in Bountiful about the impact of the President’s energy policies and inflation.Sen. Lee, through his role as ranking member of the Congressional Joint Economic Committee, released astate inflation tracker that provides the most detailed information available on how inflation is impacting the various states and families who live therein.  The data show that inflation is hitting Utah harder than almost anywhere else in the nation.  While inflation nationally is at 9.9%, in Utah the rate is 11.9%.  The data show that the average Utah family is paying an additional $702 a month and $8,429 a year due to this inflation.


Sen. Lee has introduced a number of bills to fight inflation in Utah from its various sources, reckless federal spending, supply-chain difficulties, and skyrocketing housing costs.

 

Spending: The PRICE Act

Sen. Lee introduced the Preventing Runaway Inflation in Consumer Expenditures (PRICE) Act on March 3, 2022.  The PRICE Act requires a 3/5 majority of Senators to approve new spending measures when the nation’s inflation rate is at or above 3%.  Runaway federal spending has been a major contributor to current inflation, which is now charted as the highest rate in four decades.  This bill builds upon Senator Lee’s budget amendment that received 49 votes during the August 2021 budget reconciliation process.

For a one-pager on the PRICE Act, click HERE.

Senator Mike Lee on Curbing Inflation | KSL's News Radio - Inside Sources with Boyd Matheson

 

Supply-Chain: The SHIP IT Act 

Sen. Lee introduced the SHIP IT Act on March 10, 2022 to help ease the nations supply chain crisis and counter rising inflation by simplifying or suspending certain federal regulations on ports, ships, and trucks.  Empty shelves and backlogged ports have wreaked havoc on American businesses and families.  This bill focuses on streamlining the process to get products off of ships, into trucks, and onto shelves.  The SHIP IT Act builds on and expands Sen. Lee’s STOP the GRINCH Act which was introduced in 2021.

For a one-pager on the SHIP IT Act, click HERE.

Utah Senator Mike Lee introduces the SHIP IT act to ease inflation | ABC 4

 

Housing: The HOUSES Act

Sen. Lee introduced his Helping Open Underutilized Space to Ensure Shelter or HOUSES Act on April 7, 2022 to help units of local government address housing supply and affordability in their jurisdictions.  The federal government owns more than two-thirds of the land in Utah.  Utah is also among the states with the most competitive housing markets and limited housing supply.  That constrained supply led home prices in the state to increase by 24.5% from 2020 to 2021. Coupled with historic inflation, the rising prices of housing is making life less affordable for western families.

For a one-pager on the HOUSES Act, click HERE.

Buying federal land for affordable housing? Sen. Mike Lee proposes a plan | Deseret News

Opinion: Is this a solution to Utah’s housing crunch? | Deseret News

Sen. Mike Lee introduces bill to allow sale of public lands for affordable housing | St George News

Senator Lee’s HOUSES Act Aims To Address Affordable Housing Shortage | BasinNow