Even as Americans continue suffering under the financial strain caused by high inflation, the House of Representatives on Wednesday passed a massive $1.5 trillion spending package.
The measure, which was passed in two votes, will head to the Senate.
The plan will fund the government through the end of the fiscal year. It will raise defense and nondefense spending as compared to the prior year. The package also includes funding related to Ukraine. It also contains earmarks for lawmakers in both parties.
Americans are suffering under the financial strain of rapidly skyrocketing gas prices, and the situation could get even worse in the days ahead.
President Biden on Tuesday signed an executive order banning the importation of Russian crude oil and other products, a move meant to turn up the heat on Russia in response to its invasion of Ukraine. The order prohibits importation of “crude oil; petroleum; petroleum fuels, oils, and products of their distillation; liquefied natural gas; coal; and coal products” from Russia.
Last month, the U.S. Bureau of Labor Statistics released the January consumer price index data that showed rapid price increases.
“The all items index rose 7.5 percent for the 12 months ending January, the largest 12-month increase since the period ending February 1982,” BLS reported.
BLS scheduled to release February consumer price index data on Thursday.