Senate Democrats Tout ‘Lower Energy Bills’ After Energy Cost Spiked 8.7%

Sen. Chuck Schumer (D-NY) on Wednesday suggested Democrat lawmakers tout “Lower Energy Bills” to their constituents after energy costs spiked 8.7 percent in January.

Schumer penned the letter with Sen. Debbie Stabenow (D-MI), the Democratic Policy and Communications Committee chair, to encourage Democrat senators to use the upcoming recess as an opportunity to champion lower energy bills.

“Thanks to the good work of President Biden and his Administration, there is a team for us to partner with as we work to turn this legislation into good-paying jobs, lower costs, and new economic opportunities for the American people,” the letter began.

In the last section of the letter, Schumer and Stabenow say constituents have the opportunity to enjoy lower energy bills because of a tax credit passed in the so-called Inflation Reduction Act.

“Lower Energy Bills: American consumers can now select from a wide range of incentives from in the Inflation Reduction Act and Bipartisan Infrastructure Law. The tax credits alone could help families get up to $14,000 for making their homes more energy efficient,” the letter read.

Democrats pushed the talking point as energy prices increased in January. According to the consumer price index (CPI) released Tuesday, the cost of energy spiked 8.7 percent in January 2023 from January 2022. Moreover, in just one month from December 2022 to January 2023, energy costs spiked by 3.1 percent.

Energy services were also affected in the soaring energy costs. In one year, the cost of energy services has soared 15.6 percent, the CPI report found. From December 2022 to January 2023, prices increased by 3.4 percent.

Soaring energy costs have been a key driver in the overall inflation numbers throughout the past year. A Moody’s report in 2022 projected Biden’s 40-year-high inflation would cost American households on average an extra $5,520 in 2022, or $460 per month.

Follow Wendell Husebø on Twitter @WendellHusebø. He is the author of Politics of Slave Morality.