Historic High Inflation Continues; The American Innovation and Choice Online Act Could Spike Costs
Washington, D.C. – As historic inflation rates continue to harm American consumers, some in Congress are trying to pass harmful legislation that would make it even harder to pay for basic goods and services.
One of those bills is S. 2992, the American Innovation and Choice Online Act (AICOA), which would raise costs even more for the American people and hamstring small businesses. According to the Small Business & Entrepreneurship Council, S. 2992 “ignores…market reality” and would “disrupt a whole range of free or affordable services that both consumers and small businesses benefit from.”
The newly released data on the Consumer Price Index (CPI) from the Bureau of Labor Statistics shows that now is not the time to make the economic recovery needlessly complicated.
“Right now, Americans are struggling to pay for basic necessities like gas and groceries. President Biden, his advisors, and our nation’s top economists all agree we need to be lowering prices, but S. 2992 would target digital goods and services which can actually help combat inflation. Congress should focus on policies that work to drive down costs as much as possible instead of considering bills like S. 2992 that could only make some digital goods and services more expensive,” said Chandler Smith Costello, a spokeswoman for the Don’t Break What Works Campaign.
The Don’t Break What Works campaign is powered by the Computer and Communications Industry Association (CCIA). Learn more here.