Republican Leaders Caught Rooting Against The American Economy For Political Gain As New Report Says Build Back Better Act Will Ease Inflationary Pressures
FOR IMMEDIATE RELEASE: November 17, 2021
PRESS CONTACT: [email protected]
REPUBLICAN LEADERS CAUGHT ROOTING AGAINST THE AMERICAN ECONOMY FOR POLITICAL GAIN AS NEW REPORT SAYS BUILD BACK BETTER ACT WILL EASE INFLATIONARY PRESSURES
Republican Senator Rick Scott calls inflation a “gold mine” for GOP
Economic experts, including 17 Nobel laureates, say Build Back Better Act will ease inflation
WASHINGTON, D.C. — As Republicans continue to put party over country and root against the Build Back Better Act to lower costs for middle-class Americans, a new report today in Reuters highlights that President Biden’s agenda will help ease inflation and create long-term growth:
“The bills do not add to inflation pressures, as the policies help to lift long-term economic growth via stronger productivity and labor force growth, and thus take the edge off of inflation,” said Mark Zandi, chief economist at Moody’s Analytics.
This news comes on top of a recent report from Moody’s Analytics that found that the Bipartisan Infrastructure Bill and the Build Back Better Framework would ease inflationary pressures and that concerns of inflation are “overdone.” In addition, economic experts, including in an open letter penned by 17 Nobel Laureates, have underscored how the Build Back Better Act will make critical investments that will boost economic growth and ease inflationary pressures in the long run. These much-needed, long-term investments are fully off-set by ensuring the wealthiest Americans and big corporations finally pay their fair share and will spur economic growth and productivity as they help parents get back to work, improve our country’s education system, and address pandemic-induced supply chain backlogs by rebuilding America’s infrastructure.
President Biden and leaders in Congress are laser-focused on delivering economic relief — from the American Rescue Plan to record job growth — along with passing the largest infrastructure investment in the history of the United States, while Republicans are cheering on inflation and opposing the Build Back Better Act that would lower costs for things families depend on, including health care, prescription drugs, child care, preschool, and utility bills.
“Under President Biden’s leadership our economy is recovering at a record pace after a once-in-a-century pandemic and an unprecedented global economic shutdown. Yet Republican leaders are rooting against working families and the American economy for political gain. If they had any concern about inflation, they would help pass President Biden’s Build Back Better Act and provide relief to hard working families across the country while creating jobs, and growing our economy from the middle out,” said Building Back Together Executive Director Danielle Melfi.