FRANKFORT, KY (September 12, 2023) – As record-high inflation squeezes family budgets, Attorney General Daniel Cameron recapped his actions taken to help hardworking Kentuckians.
"Biden and Beshear have buried their heads in the sand. They want you to believe that our economy is on fire. But on their watch inflation has hit record highs, and workforce participation sits at indefensible lows," said General Cameron. "This is hardly the kind of prosperity worth trumpeting."
Whether at the grocery store or the gas pump, inflation continues to sting. The Consumer Price Index, which measures prices for a wide variety of consumer goods and services, has risen 16.9% since President Biden took office. In fact, Americans are paying $10,000 more per year for goods and services than before the Biden Administration began. Reports also show that 61% of Americans are now living paycheck-to-paycheck.
It's no secret how we got here: inflationary pressure driven by bad government policies. General Cameron has been a bulwark against such policies, leading an inflation-fighting crusade to restore the American Dream for all.
Food prices are on the rise. The cost of pork belly alone is up over 100% this year. And bacon will only get more expensive, thanks to a California law that would ban the sale of pork that doesn't comply with the state's extreme standards. General Cameron stood up to this war on breakfast, urging federal leaders to protect consumers from California's reckless decrees.
Household appliances have faced a similar regulatory assault. Under the guise of fighting climate change, the Biden Administration first came for incandescent light bulbs and then came for our washers, dryers, and gas stoves. In the past year, the Administration proposed regulations that would ban some of the most popular models of household appliances and drive up costs in the process. General Cameron opposed each of these assaults on consumer choice.
The General Assembly recently charted a course to reduce individual income tax rates. Governor Beshear vetoed that plan, and President Biden tried to keep Kentuckians from receiving those tax cuts. But General Cameron helped win a crucial victory in federal court, guaranteeing that Kentuckians keep more of their hard-earned money.
Now, more than ever, we need to protect the value of paychecks. Because for over two years inflation grew at a higher rate than average hourly wages. And the average inflation-adjusted hourly earnings of all employees have barely budged in four years, climbing only 12 cents from December 2019 to July 2023.
So the timing could not have been worse for President Biden to unveil a regulatory scheme to force consumers, producers, and supply chains to adopt expensive electric vehicles at a breakneck pace. These proposed regulations would increase the cost of cars, undermine the reliability of electrical grids, and threaten our national security. General Cameron spearheaded a 25-state coalition challenging this fast-and-furious approach to electrification.
America runs on affordable and reliable energy. But President Biden and Governor Beshear's radical climate agenda has wreaked havoc on our energy sector. The result? Gas prices hit record highs, and Americans are now paying over $2,250 more in annual energy costs.
General Cameron is delivering on his commitment to protect Kentucky consumers and Kentucky coal. He fought federal proposals to impose crippling costs on coal-fired power plants, sued to stop the Biden Administration's cancellation of the Keystone Pipeline, and opposed the EPA's excessive regulation of American waterways. Since taking office, General Cameron has saved Kentuckians nearly $300 million in proposed utility rate increases.
General Cameron won't stop fighting for Kentucky. To learn more about his efforts, visit ag.ky.gov.