Consumer Price Index for May is released Wednesday/Producer Price Index on Thursday

Hey guys, it is Ryan. For years, Chumba's been set in the bar for online social casino fun, and it just keeps getting better. With new games released every week and daily bonuses to collect, the fun never stops. So claim your welcome bonus now at chumbacasino.com. No purchase necessary. VGW room. We're prohibited by law. See terms and conditions, 21 plus. News in 30 minutes. Breaking news anytime. Now it's more with Dave Allen as the Syracuse morning news continues on News Radio 570 WSYR on 106.9 FM. Well, after a night of strong, gusty thunderstorms across central New York, we're getting some spotty showers this morning. Looks like things could pick back up and get some more strong gusty thunderstorms this afternoon. How long is this going to last? We'll check traffic and weather together on the tens here in just a couple of minutes. Well, the Consumer Price Index for May will be released today, and the producer price index will be released tomorrow. What are we in for? Let's welcome Kent Strang to the show. Kent is the managing director for Americans for Prosperity. Kent, it's been way too long. How are yours? How are you, sir? Great to be with you, Dave. Thanks for happening this morning. So, break it down. What is the Consumer Price Index, and why does it matter? Well, the Consumer Price Index is how much consumers you and I pay when we go to the store. And it matters because as those prices pick up, it's how much we pay when we go out and we buy goods. And as those prices tick up, We want our dollar to go further. And so what's happening right now is we continue to see the price of gas creep up because of the conflict in Iran. The price of gas impacts the price of everything. And so we're expecting to see CPI come in at around 4.2%. And as that increases, our purchasing power tends to go down. And we don't want to see over $4 gas gasoline. And we'd love to see a conflict. in Iran come to a close, see the Strait of Hormuz open up and get back to normal and see gas prices come back down because it's really difficult on American families, and Congress should really focus on finding ways to lower costs for American families. Sounds like maybe a quick fix. Is that even possible? Well, I'd love to see a quick fix. I think it's going to take a little bit of time to get supply chains back to normal, but there are still policies that Congress can do now to make energy security and national security. There are always going to be conflicts in Iran or conflicts around the world that impact oil prices and gas prices. But what we really need to look at are, what are the things that we can do at home to inflate ourselves from that? There's too much red tape. There are too many regulatory burdens. There are over 650 energy projects that are stopped and stalled because they're stuck in permitting processes. We need to streamline our permitting so we can get to those great American natural resources and lower energy costs for Americans at the gas station at the grocery store. Kent, are we in worse shape here in the state of New York than the rest of the country?

Well, the Northeast certainly has its problems when it comes to energy. But look, America can do a lot of things with our pipelines and with the way that we're able to move energy. But one thing that is making it harder in the Northeast is a 100-year-old relic called the Jay Jones Act. And it is a policy that says that if we want to be able to move energy, say from Texas to the northeast, it has to be on a ship that is... owned by Americans, built in Americans, and crude by Americans. And while that might sound patriotic, it limits supply, it drives up deliberate costs, and it ends up making Americans spend more money, especially in the Northeast. One study says it increased petroleum costs by roughly... $769 million a year. And another study indicates that repealing the Jay Jones Act could boost US GDP by about $3.2 billion. And the reason is that only 54 oil tankers. comply with what's called the Jay Jones Act. And so again, if we want to move Texas oil up to the northeast to New York, it becomes incredibly expensive to do that. And Congress could repeal this law and make it easier for us to build ships in America, make it easier for us to move oil because it can be less expensive to move out across the ocean than it can from Texas to New York. And that's a bad policy that could open up. lower energy costs for New Yorkers and Northeasterners. Real quick. Any effort to repeal the Jay Jones Act? Well, Senator Mike Lee of Utah is the biggest champion on this. And President Trump has signed a 90-day waiver where he suspended the Jay Jones Act. And we see the Jay Jones Act suspended a lot during natural disasters, during hurricanes and the like. And there's an opportunity to do it. And if Congress really wants to focus on lowering costs for Americans, this is one place to start. Is this going to solve all of our problems? No, but it's a great way to start to show Americans that we care about the cost of living. We have solutions to the problems that we face every day as Americans, and it's a great easy way to start because 100-year-old relics from Woodrow Wilson, it's an easy place to say, hey, we hear you, we see the gas prices, we see the grocery prices. Let's start with this. All right, Kent, got a scoot here. We appreciate the update. We'll do it again soon. Kent String, the managing director for Americans for Prosperity. 709. We'll check traffic and weather together on the tens next. It is Ryan Seacrest here. There was a recent social media trend, which consisted of flying on a plane with no music, no movies, no entertainment. But a better trend would be going to chumba casino.com. It's like having a mini social casino in your pocket. Chumba Casino has over 100 online casino-style games.

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