Lankford, Scott, colleagues want to stop Congress from overspending when inflation soars

Okay, first of all, I think the last three words ("when inflation soars") should be left out of their chosen headline and effort.

Republicans absolutely looooove to talk about government overspending -- when they're out of power. I've lost count of the times they failed to remember that when they controlled the purse strings.

Anyway, maybe one day they'll get that right.

Lankford, Scott, Colleagues Want to Stop Congress from Overspending When Inflation Soars

OKLAHOMA CITY, OK – Senator James Lankford (R-OK) joined Senators Tim Scott (R-SC) and John Thune (R-SD), and eight of their colleagues to introduce the Inflation Prevention Act (IPA) to help combat inflationary spending. Due to record government spending over the last two years, many Americans face rapidly rising costs of consumer goods. This bill would bar legislation estimated to increase inflation until the year-over-year inflation rate drops below 4.5 percent. Lankford, Scott, and Thune are joined on the bill by Senators Chuck Grassley (R-IA), Rick Scott (R-FL), Joni Ernst (R-IA), Todd Young (R-IN), Marco Rubio (R-FL), John Hoeven (R-ND), Bill Hagerty (R-TN), and Steve Daines (R-MT).

“It’s clear that Democrats’ reckless spending approach to the pandemic has created the inflation crisis Oklahomans now face, especially after inflation hit a devastating seven percent in December,” said Lankford. “I have warned about the impact of out-of-control spending on our economy for years. Our proposal protects against federal over spending that makes inflation worse, helps make sure future emergency spending only moves forward when absolutely needed, and reins it in when the federal pork barrel buffet starts to roll toward inflation.”

“American families cannot continue to endure the burden of skyrocketing costs of everyday goods brought on by reckless spending in Washington,” said Tim Scott. “A sound financial future requires wise financial action now.”

“Our country is facing the highest level of inflation in nearly 40 years, and South Dakotans are paying more for food, utilities, and gas,” said Thune. “I’m proud to join Sen. Scott in the fight to stop the Democrats’ reckless tax-and-spending spree, which would significantly worsen the already damaging inflation crisis.”

Lucas joins calls for USDA to provide immediate assistance to cattle producers

Lucas Joins Colleagues Urging USDA to Provide Immediate Assistance to Cattle Producers

Washington, D.C. – Today, Congressman Frank Lucas (OK-03) joined a letter led by U.S. Sens. John Thune (R-S.D.) and Catherine Cortez Masto (D-Nev.) and U.S. Reps. Dusty Johnson (R-S.D.) and Henry Cuellar (D-Texas) to U.S. Department of Agriculture (USDA) Secretary Sonny Perdue requesting that he provide immediate assistance to cattle producers by using the resources provided in the recently enacted Coronavirus Aid, Relief, and Economic Stabilization (CARES) Act, including the replenishment of the Commodity Credit Corporation (CCC) and additional emergency funding. Doing so would help facilitate the stabilization of farm and ranch income for producers who are facing market volatility in the wake of the COVID-19 pandemic and economic fallout.

“The COVID-19 outbreak has demonstrated the need for domestic food security,” the Members of Congress wrote. “All farmers and ranchers are vital to our country’s ability to keep food on the table in a future pandemic or related crisis, and many producers, including young producers, are often highly leveraged and cannot fall back on years of equity in a time of crisis. As such, we urge you to quickly deliver relief to producers as we work to lessen the economic impact of this pandemic.”

Thune, Cortez Masto, Johnson, Cuellar and others worked hard to ensure the CARES Act replenished the CCC and appropriated an additional $9.5 billion for USDA to assist producers, including livestock producers, throughout this crisis.

Read the full letter here and below:

April 1, 2020
The Honorable Sonny Perdue
Secretary
U.S. Department of Agriculture
1400 Independence Avenue, SW
Washington, DC 20250

Dear Secretary Perdue,

We write to request swift assistance for cattle producers with the resources provided in the recently enacted Coronavirus Aid, Relief, and Economic Stabilization (CARES) Act to facilitate the stabilization of farm and ranch income to producers who are facing market volatility in the wake of the COVID-19 pandemic and economic fallout.

Recognizing the market volatility and financial hardships producers are facing because of COVID-19, the CARES Act provides $14 billion toward replenishment of the Commodity Credit Corporation and an additional $9.5 billion for the U.S. Department of Agriculture (USDA) to assist farmers and ranchers in response to COVID-19.  While we do not know what the full market impact will be for the various commodities produced in our states, we recognize that there is an immediate need for assistance for our cattle producers.

We request that USDA consider data and estimates available from the Office of the Chief Economist and implement a program that would directly respond to the negative effect on producers caused by COVID-19.  This program should deliver targeted, temporary, equitable relief to cattle producers in a manner that limits market distortions and negative effects on price discovery.

The COVID-19 outbreak has demonstrated the need for domestic food security.  All farmers and ranchers are vital to our country’s ability to keep food on the table in a future pandemic or related crisis, and many producers, including young producers, are often highly leveraged and cannot fall back on years of equity in a time of crisis.  As such, we urge you to quickly deliver relief to producers as we work to lessen the economic impact of this pandemic.