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Inflation is up. Will Joe Biden’s Build Back Better plan help or hurt?

  • President Joe Biden said this week he expects the $1.75 trillion bill to pass Congress by Thanksgiving, possibly along party lines with Vice President Kamala Harris breaking the tie.
  • Inflation has surged to a 31-year high, up 6.2% in the last year, according to the Labor Department. Supply-chain snags and a labor shortage are among the contributors.
  • The legislation, among other things, would provide universal pre-kindergarten schooling, affordable housing, paid family and medical leave, and reduced prescription drug costs.

The White House says its sprawling Build Back Better legislation will create a new foundation for American households, a kind of social infrastructure for low- and middle-class families.

Many Republicans and some moderate Democrats say it will toss more gasoline on the flames of soaring inflation.

President Joe Biden said this week he expects the $1.75 trillion bill to pass Congress by Thanksgiving but analysts say concerns about its impact on inflation could delay approval and shrink its size.  

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