Heading into the Memorial Day travel weekend, House Republican leader Kevin McCarthy and other members of his party are falsely blaming President Joe Biden for higher gasoline and lumber costs.
Gas prices have risen in recent weeks because a key pipeline was forced to close after a cyberattack. And lumber shortages — which existed during former President Donald Trump’s administration — were worsened by an unexpected housing boom.
Shortages have bedeviled the economy this spring, but most economists attribute the bulk of them to the difficulties of restarting the U.S. and global economies.
MCCARTHY: “Despite gas prices being at historic lows this time last year, the average price for a gallon of gas is currently an astounding $3.10. That’s the highest it’s been since 2014, the last time Joe Biden was in the White House.” — blog post on Monday.
REPUBLICANS on the HOUSE BUDGET COMMITTEE: “Biden’s policies have led to the highest gas prices in six years.” — tweet Tuesday.
THE FACTS: Biden’s policies aren’t behind the price increases. Gas prices are up because of a rapid and unexpected bounce-back in demand, and because of lingering problems from the forced shutdown early this month of the Colonial Pipeline, which provides 45% of the fuel consumed on the East Coast.