Economists Spar Over Inflationary Impact Of ‘Build Back Better Act’

Economists Spar Over Inflationary Impact Of ‘Build Back Better Act’

As the Build Back Better Act moves through Congress, economists disagree over its possible inflationary effects.

The $1.75 trillion legislation — which the House of Representatives passed on Friday — would expand various social programs, including universal preschool, childcare subsidies, and climate change initiatives. The Congressional Budget Office — the federal government’s nonpartisan fiscal scorekeeper — said that the bill would add $367 billion to the deficit by 2031, not considering a potential $207 billion windfall arising from enhanced tax enforcement efforts.

Some reports indicate that the Build Back Better Act would have a negligible impact on price levels; others note that the legislation in its current form would lend itself to extensions of key programs, thereby masking its true cost.

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For one, Moody’s Analytics notes that the

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