Steve Cohen: “Contrary to the remarks from my friend from South Carolina, leading economists in this country say that the Build Back…”

“Contrary to the remarks from my friend from South Carolina, leading economists in this country say that the Build Back Better bill will help on inflation. It will ease inflationary measures. It is important that we pass the Build Back Better bill if we are going to deal with inflation. Build Back Better, the Reuters Agency says Biden's spending plan will not add to inflationary pressure. Mark Zandi, the chief economist at Moody's Analytics, said, ``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.'' Madam Speaker, 17 Nobel Prize winners in economics have already stated they believe the Build Back Better bill will ease longer term inflationary pressures. So it is not an inflation problem. In fact, by passing the bipartisan infrastructure bill, we make it easier for people to get to work and for goods to get to market. Improving our ports, our airports with cargo, our highways, and our rail, all of those things, make it easier for us to work against inflation and to get goods to market and improve the economy. So we should pass Build Back Better, and hurray Biden. ____________________”