WHITE SULPHUR SPRINGS, WV (WVNS) — U.S. Senator Joe Manchin took a moment to comment on the country’s economic landscape during remarks at the Schoolhouse Hotel in White Sulphur Springs on Monday.
Manchin said altering the tax code to fix gaps with income inequality will ease the burden of inflation and hold corporations accountable.
“If there is one thing that we can do right now, and we should be doing under reconciliation, and I have talked about all the other things that they wanted to do, fix your tax code,” Manchin said. “You are reconciling your finances of your country, the same you reconcile your bank account.”
Inflation is the rate of price increases over time. Consumer prices jumped 7.5 percent from 12 months ago in January, the fastest increase since 1982. Prices are expected to continue to increase for all expenses; but recent geopolitical tensions will now also play a role in inflated prices.
Conflict in Eastern Europe between Russia and Ukraine is expected to cause energy and gas prices to increase in Western Europe and the U.S. due to Russia’s expansive natural gas supply. Manchin said the developing conflict should motivate the government and business owners to work together to resolve inflation sooner rather than later.
“Anytime there is a conflict, there is a problem especially when energy is involved,” Manchin said. “So, there could be a spike more with inflation, I think all of you see inflation hitting you hard. We should be fighting like the dickens to get our financial house in order and we should be fighting basically to bring inflation down. We can not do it with what we have been doing and how we have been acting.”
Manchin also commented on the Bipartisan Infrastructure bill that will bring nearly $6 Billion to the Mountain State for broadband expansion, roads, bridges and other needs.
“The state has an awful lot of money that the feds have sent in,” Manchin said. “So, you have the feds and the state and then you have basically your local planning for the Greenbrier County, for the White Sulphur area and what you all are doing is unbelievable and there is opportunity there, tremendous.”