On Wednesday’s broadcast of CNN’s “The Lead,” White House Chief of Staff Ron Klain argued that inflation concerns “make the strongest possible case” for the Build Back Better reconciliation bill that “doesn’t put any more money into the economy on net.”
Klain said Sen. Joe Manchin’s (D-WV) concerns about inflation “make the strongest possible case for Build Back Better. One of the biggest expenses families face is child care. Our bill will cut the cost of child care for middle-class families in half. Another thing that people are really feeling the pinch of is prescription drugs. Our Build Back Better bill lowers the cost of prescription drugs, puts a cap on what seniors pay for their drugs. People are pinched by eldercare costs. It brings that down. By health insurance premiums, the bill brings that down. And of course, for families with children, the bill provides a tax cut of $250 per child per month. So, I think if your concern is the cost of living, it’s a concern we have here at the White House. It’s a concern Sen. Manchin shares. The Build Back Better bill is the best answer we have to bring those costs down. By the way, it also does it without adding a penny to the federal debt. It’s fully paid for, and without raising a penny of taxes on families making less than $400,000 a year.”
He added that the bill “doesn’t put any more money into the economy on net. … That doesn’t fuel inflation. It does the opposite. It brings down costs for everyday people.”
Follow Ian Hanchett on Twitter @IanHanchett