It's no secret that inflation has resulted in soaring prices at the supermarket and the drug store.

So much so, that Sen. Jess Lujan believes the public needs a break.

He's introduced a bill to suspend the 5 percent business privilege tax on food and medicine temporarily for one year.

"You know when it's good for everyone islandwide you know there shouldn't be any excuse, again from the administration or from my colleagues not to pass this bill. It's something that will benefit every single human being here on island," he said.

By suspending the 5 percent Buisiness Privage Tax on food and medicine, Lujan is hoping that translates into a 5 percent savings at the business cash registers.

"At this point, the reassurance we have is basically on just their goodwill at this point to make sure that faith that they would do as such, but it's easy to be able to detect that," he said. "Basically just on their GRT they're paying right now. And it should reflect immediately because this will become immediately after it's passed, I mean either passed or signed into law, right."

Senators have just passed the Fiscal Year 2024 budget, now signed into law by the governor.

Lujan's not sure how his bill will affect government revenues, but he says it appears there was plenty of money to spend on government operations that they should at least be giving some back to taxpayers.

"This past budget, of course, they were doling out like crazy, it's one of the things our republican caucus didn't do is vote for the bill because we were spending money for excess funds for FY 22 and FY 23," he said. "We haven't even gotten the audited report we're spending this year's and 22 and 23 funding already. You know excess funding, wow. At this point, I'm asking for at least a one-year reprieve, a one-year breathing room for food and medicine. Again, I don't have the authority to put something on the bill that says forever, that's only granted to the administration."

Lujan first introduced the bill back in January of this year.

It will finally get a public hearing on Friday, Sept. 22 at 9 a.m. at the Congress Hall in Hagatna.