KPMG chief economist Diane Swonk says it's important to remember rapid rate hikes can exacerbate market fragility.
A push is on among lawmakers in Alabama considering removing, or phasing out, the state's 4% sales tax on food.Competing proposals are being introduced on both sides of the aisle in the Alabama Legislature to end the sales tax on all, or at least some, groceries. According to the U.S. Bureau of Labor Statistics, U.S. grocery prices increased an average of nearly 11% over last year.
The average Alabama family spends $600 a year on the state grocery tax and removing it would be a lasting benefit to families struggling to make ends meet, according to Alabama Arise, a lobbying group for low-income families. "Our families our hurting. We can’t afford to pay 4% on top of already expensive food," Robyn Hyden, executive director of Alabama Arise, said during a Tuesday press conference and rally outside the Alabama Statehouse.
Impossible that prices are going up HenrikZeberg stated otherwise
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