Progressive Rep. Ro Khanna says Biden needs ‘bolder’ inflation plan
California Rep. Ro Khanna (D) wrote an opinion piece published on Thursday calling for President Biden to have a “bolder” plan to address inflation.
“I support the president’s efforts, but we need a bolder vision and faster action,” Khanna wrote in a New York Times opinion piece not long after Biden presented a plan to address inflation in the country.
“To meet the moment, Mr. Biden should convene an emergency task force empowered to lower prices and address shortages. We need an all-out mobilization, not just a few ad hoc initiatives reacting to headlines,” he added.
Khanna specifically addressed the need to bring down prices on everyday items like food and fuel.
The representative proposed that the Department of Agriculture could purchase essential items when their prices are low during dips in the market and then resell them at a low cost to Americans. He suggested the Department of Energy do the same with petroleum.
Khanna also addressed the nationwide baby formula shortage and suggested that the U.S. “purchase surplus baby formula in large quantities from Europe and create a mutual recognition system.”
“There is no patience for incrementalism or political spin about economic numbers in these times,” he said, adding that “Democrats can’t just blame the Republicans for lacking a plan.”
Khanna’s remarks come after Biden presented a three-part plan to address inflation earlier this week.
Biden said he would first acknowledge that the Federal Reserve “has a primary responsibility to control inflation.”
He also said he would aim to make goods more affordable, zeroing in on high gas prices. Biden blamed Russia’s invasion of Ukraine for the spike in costs. The president also highlighted the release from global oil reserves and urged Congress to pass clean energy tax credits.
Lastly, Biden said he would reduce the federal deficit through “common-sense reforms to the tax code.”
The president has received criticism from Republicans who have blamed him, his fiscal policy and the $1.9 trillion American Rescue Plan for contributing to inflation.