Politics

EXCLUSIVE: Sen. Tim Scott Pressed The Treasury Department Over Inflation, Here’s Their ‘Unacceptable’ Response

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Henry Rodgers Senior Congressional Correspondent
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Republican South Carolina Sen. Tim Scott sent a letter to Treasury Sec. Janet Yellen in December of 2021 warning her of increased inflation and calling for transparency to which they did not respond until April 19 2022. The response did not provide answers to Scott’s questions.

The Daily Caller exclusively obtained both Scott’s letter and the Treasury Department’s response. In Scott’s original letter, the South Carolina Republican said with inflation rising, he wanted to see all records, including draft documents, draft document comments, and draft document redlining responsive to a number of keywords within the U.S. Department of Treasury’s control.

Scott’s letter also said he was asking for the information in order to understand the steps the Treasury Department took in 2021 to address inflation so that Congress will be able to examine what needs to be taken to address inflation.

However, Scott was not pleased with the response he received and said they either don’t understand what is happening with the U.S. economy or they are denying reality.

“This administration either doesn’t understand or is flat out denying the reality of our economy. The Biden blame game is an insult to the intelligence of every American who watched prices at the pump and in the grocery store go up as a direct result of Democrats flooding the economy with trillions of dollars,” Scott told the Daily Caller.

“If President Biden and his administration refuse to give any information on their efforts to address inflation, we are all left wondering if they have a plan at all. This response is unacceptable,” Scott added.

READ THE LETTERS HERE: 

(DAILY CALLER OBTAINED) — Senate Aging RM Tim Scott Request to Treasury_Final by Henry Rodgers on Scribd

(DAILY CALLER OBTAINED) — … by Henry Rodgers

The letter Scott received from the Treasury Department did not address his specific concerns and instead laid out the American Rescue Plan, which provided hundreds of billions in funding to schools and small businesses as well as $1,400 stimulus checks. President Joe Biden signed his $1.9 trillion American Rescue Plan into law on March 11, 2021. (RELATED: ‘Saying A Black Man Cannot Think For Himself’: Sen. Scott Tears Into Joy Reid For Criticizing GOP Over Judge Jackson)

Economists have cited general inflation, supply chain issues and the Russian invasion of Ukraine for the rise in prices. (RELATED: Sen. Tim Scott Responds To Racist Attacks: ‘They Are Literally Attacking The Color Of My Skin’)

In March, inflation soared to another four-decade high.