Extra

Bernie Sanders says the Inflation Reduction Act will have ‘minimal impact’ on inflation

Written by Javed Iqbal

Vermont Independent Late. Bernie Sanders adopted a tone more akin to congressional Republicans than Democrats on Saturday when he said the hotly debated Inflation Reduction Act will do little to reduce inflation.

“Madam President, I’d like to take a moment to say a few words about the so-called inflation reduction that we’re discussing tonight,” Sanders said. Senate floor Saturday night. “And I say so-called, by the way, because according to the CBO and other economic organizations studying this bill, it will actually have a minimal impact on inflation.”

Sanders went on to criticize the bill, saying it does not address child poverty, income inequality or the “dysfunctional” health care system in the United States.

Sanders explained that the bill “turns its back on the working parents of this country and our children.”

GROWING INFLATION CAUSES MORE AMERICANS TO LIVE PAYCHECK TO PAYCHECK FOR TRANSPORTATION 5.1% INCREASE IN WAGES

Bernie Sanders speaks at a press conference

Senator Bernie Sanders, an independent from Vermont, speaks during a news conference at the US Capitol in Washington, DC (Stefani Reynolds/Bloomberg via Getty Images/Getty Images)

Sanders urged Democrats to support his efforts to amend the bill so it does more to help American working families.

Conservatives complimented Sanders on social media after Republicans on Capitol Hill pointed out in recent days that Congressional Budget Office recognized that the Inflation Reduction Act will have a negligible effect on inflation.

“Bernie Sanders, of all people, is more honest about this garbage bill than Joe Manchin is,” Heritage Foundation communications director John Cooper tweeted.

Inflation food prices

A man shops at a Safeway grocery store in Annapolis, Maryland, on May 16, 2022, as Americans brace for summer sticker shock as inflation continues to rise. ((Photo by JIM WATSON/AFP via Getty Images) / Getty Images)

THE DEMOCRATS’ INFLATION REDUCTION ACT IS “ECONOMIC EXECUTION”: ECONOMIC

A vote to move forward with the Democrats’ social spending and taxation bill passed Saturday night, setting off floor debate followed by a marathon vote-a-ramabefore a final vote on the legislation is expected sometime Sunday.

“What it’s about today is whether Democrats will stand up and fight, fight for amendments and support amendments that address some very critical needs of working families,” Sanders told Fox News Digital earlier in the day. “The amendments that I’m going to offer probably have the support of 70 or 80 percent of the American people. We’ll see how much support they get.”

GET FOX BUSINESS ON THE GO BY CLICKING HERE

WASHINGTON, DC – JULY 28: US President Joe Biden removes his mask as he delivers remarks on the Inflation Reduction Act of 2022 (Getty Images/Getty Images)

Several other Democrats, however, are cool with Sanders’ strategy. They believe it creates unnecessary risk after negotiating for more than a year to get a ballot proposal their entire caucus could support.

“Many of us believe that our first goal is to make sure this gets to the finish line without any changes creating problems for its final passage.” Late. Chris Murphy, D-Conn., said. “I will vote no on any amendment I believe compromises the bill’s signature by the president.”

Several top Democrats, including Senate Majority Leader Chuck Schumer, have dismissed concerns and economist analyzes that the Inflation Relief Act will have minimal effect on the record high inflation that has continued to rise over the past year.

“They’re wrong. I don’t know who that list was… it’s as obvious as the nose on your face,” Schumer said in response to a letter from 230 economists who warned that the bill will increase inflation.

The White House did not immediately respond to a request for comment from Fox News Digital.

Fox News’ Tyler Olsen contributed to this report

About the author

Javed Iqbal

Leave a Comment