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<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif"><img width="624" height="147" style="width:6.5in;height:1.5312in" id="_x0000_i1025" src="cid:image001.png@01D896B3.FA9AF000"></span></b><b><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif"><o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif"><o:p> </o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">FOR IMMEDIATE RELEASE<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">July 13, 2022<o:p></o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNoSpacing" align="center" style="text-align:center"><b><u><span style="font-size:22.0pt;font-family:"Segoe UI",sans-serif">Bidenflation reaches new historic mark – highest in more than 40 years<o:p></o:p></span></u></b></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">Boise, Idaho – Governor Brad Little commented today on inflation reaching a new historic high under President Joe Biden’s watch, and he said more tax relief is on the way
as Idahoans continue to receive immediate tax rebates to offset the burden of Bidenflation.<o:p></o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">The Bureau of Labor Statistics
</span><a href="https://www.bls.gov/news.release/cpi.nr0.htm"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">released new inflation data today</span></a><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif"> for the month of June
revealing consumer prices increased yet again with an inflation rate that rose to 9.1-percent. This 1.3-percent increase is up 0.3-percent from last month, marking the highest annual inflation since 1981.<br>
<br>
The burden on consumers across every sector of the economy continued for another month, with:<o:p></o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif"><o:p> </o:p></span></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoNoSpacing" style="mso-list:l1 level1 lfo1"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">The gasoline index, up 59.9-percent<o:p></o:p></span></li><li class="MsoNoSpacing" style="mso-list:l1 level1 lfo1"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">The food index, up 10.4-percent<o:p></o:p></span></li><li class="MsoNoSpacing" style="mso-list:l1 level1 lfo1"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">The energy index, up 41.6-percent<o:p></o:p></span></li><li class="MsoNoSpacing" style="mso-list:l1 level1 lfo1"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">Used cars and trucks, up 7.1-percent
<o:p></o:p></span></li><li class="MsoNoSpacing" style="mso-list:l1 level1 lfo1"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">Utility (piped) gas, up 38.4-percent.<o:p></o:p></span></li></ul>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">CPI increased 1.-percent% on a monthly basis (May 2022 to June 2022), which is higher than last month which was up 1.0-percent for all items, reflecting:
<o:p></o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif"><o:p> </o:p></span></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoNoSpacing" style="mso-list:l0 level1 lfo2"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">The food index increased 1.0-percent<o:p></o:p></span></li><li class="MsoNoSpacing" style="mso-list:l0 level1 lfo2"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">The energy index increased 7.5-percent<o:p></o:p></span></li><li class="MsoNoSpacing" style="mso-list:l0 level1 lfo2"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">The gasoline index increased 11.2-percent<o:p></o:p></span></li></ul>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNoSpacing" style="margin-left:.25in"><i><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">“In Idaho, we saw the mounting potential for a recession months ago and took action early on to provide working Idaho families immediate and
ongoing tax relief to help. Idaho families right now are receiving historic tax rebates and will see lower state income taxes in the years ahead.
<o:p></o:p></span></i></p>
<p class="MsoNoSpacing" style="margin-left:.25in"><i><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif"><o:p> </o:p></span></i></p>
<p class="MsoNoSpacing" style="margin-left:.25in"><i><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">“Since I took office close to four years ago, Idahoans have benefited from $1 billion in tax relief, and the Idaho Legislature and I worked
together this year to pass an additional $1.5 billion in tax relief measures going forward as part of my ‘Leading Idaho’ plan.
<o:p></o:p></span></i></p>
<p class="MsoNoSpacing" style="margin-left:.25in"><i><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif"><o:p> </o:p></span></i></p>
<p class="MsoNoSpacing" style="margin-left:.25in"><i><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">“And, with another year of budget surplus before us, Idahoans can expect we will turn back even more of their hard-earned money to help offset
the burden of Bidenflation.<o:p></o:p></span></i></p>
<p class="MsoNoSpacing" style="margin-left:.25in"><i><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif"><o:p> </o:p></span></i></p>
<p class="MsoNoSpacing" style="margin-left:.25in"><i><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">“In Idaho, our government lives within its means, we prudently save for rainy days, we turn money back to the taxpayers, and we keep taxes
and regulations low. This is why Idaho’s economy continues to surge ahead, and it is the reason we top the charts for economic growth and employment. While other states are forced to consider tax increases to keep their budgets in the black, Idaho is focused
on cutting taxes to ensure an environment where employers can thrive and Idahoans and keep more of what they earn, all while investing where it counts so we can keep up with growth,”</span></i><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">
Governor Little said.<o:p></o:p></span></p>
<p class="MsoNoSpacing" style="margin-left:.25in"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif">Idaho has deployed close to 652,000 income tax rebates to households so far this year, totaling more than $225 million. The Legislature approved $350 million in immediate
tax rebates this year as part of Governor Little’s "Leading Idaho" plan, so thousands more households will receive their checks before the end of 2022.
<o:p></o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNoSpacing" align="center" style="text-align:center"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif"># # #<o:p></o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:10.0pt;font-family:"Segoe UI",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNoSpacing"><i><span style="font-size:9.0pt;font-family:"Segoe UI",sans-serif">Please DO NOT REPLY to this message. For press inquiries only, contact the Governor’s press office at (208) 854-3015 or e-mail
<a href="mailto:Madison.Hardy@gov.idaho.gov">Madison.Hardy@gov.idaho.gov</a>. <o:p>
</o:p></span></i></p>
<p class="MsoNoSpacing"><i><span style="font-size:9.0pt;font-family:"Segoe UI",sans-serif">To unsubscribe from these announcements, send an e-mail to
<a href="mailto:news@gov.idaho.gov">news@gov.idaho.gov</a>.</span></i><o:p></o:p></p>
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