CLARKSVILLE, TN (CLARKSVILLE NOW) − U.S. Sen. Bill Hagerty visited the Industrial Park today as part of a statewide economic development tour. Hagerty talked with managers at LG’s Clarksville plant and the owners of Old Glory Distillery and toured both facilities.
Hagerty walked the floor of LG’s washing machine plant and was presented with some new product lines from the electronics company. He also discussed plant operations with managers and LG USA’s senior vice president of government affairs and communications, John Taylor.
Asked about business policy, Hagerty said a part of the problem was pandemic-era spending bills and regulations. Hagerty said the money inserted into the economy was a big cause of inflation and shrinkflation, saying, “The root cause of this inflation is not corporate price-gouging. The root cause of this inflation is the war that (this administration) has waged on American energy. It’s the regulatory war that they’ve waged on every entity here in America.”
Hagerty said regulation costs for industries like banking hamper business and harm the economy. When asked about employee interests, Hagerty said they are often aligned with the interests of employers when it comes to economic results. Hagerty said spending bills such as Green New Deal proposals harm everyone by causing inflation, and that when “you invest all this capital in areas that the market isn’t demanding, and create inflation in the process, that inflation is outstripping people’s wage growth.”
The visit is part of Hagerty’s fourth annual economic development tour of Tennessee to meet with businesses statewide.
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