WH Economic Adviser: ‘Haven’t Crunched all the Numbers’ for Reconciliation Bill, But We Know It’s ‘a Win-Win’ That Reduces Costs and Deficit

On Thursday’s broadcast of Bloomberg’s “Balance of Power,” White House Council of Economic Advisers member Heather Boushey stated that while the White House has not “crunched all the numbers” on the reconciliation bill yet, we know the bill “will reduce costs” for families, reduce the deficit, and “is a win-win for the U.S. economy.”

Boushey stated, “Well, haven’t crunched all the numbers yet, but here is what we do know: This piece of legislation will reduce costs facing families. That is certainly clear. It’s a combination of a few things: One, it’s going to make investments in health care that will directly reduce costs facing families for prescription drugs, making it more affordable for people to access healthcare insurance through the Affordable Care Act. So, that is important legislation that will get at those pain points facing too many families of the high cost of health care. At the same time, it’s making investments in clean energy that will also reduce costs for families. Today, and over time, we know that the transition to clean energy is costly for families. You’ve got to buy a different kind of car or buy a different way of heating your home, you need different appliances, you need things that are more energy-efficient. It’s going to make it cheaper for families to do that and it’s going to make it cheaper for firms to invest and to have the resources they need all across the innovation to commercialization pipeline so that we can be the world’s leader in clean energy. That is what this legislation will do, and it’s going to do it by lowering costs and improving productivity and innovation across our economy, while, get this, all at the same time, reducing the deficit. So, I just want to note, the other exciting thing about this legislation is that it’s going to fulfill the president’s promise to reward work and not wealth. It’s going to make sure that the tax code is enforced fairly and that companies have to pay a minimum tax. So, this is a win-win for the U.S. economy.”

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