Congressman Don Beyer (D-VA), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement on the need to pass the Build Back Better Act.
“The Build Back Better Act has the potential to usher in a new era for our country, one that puts the well-being of workers and families—not corporations—at the center of economic policymaking. By lowering household costs, creating jobs and addressing the growing threat from climate change, these transformational investments will pave the way for stronger and more equitable growth—now and for generations to come.
“Senator Manchin’s commentary is refuted by economists and a growing body of economic analysis: The Build Back Better Act is fully paid for and will actually reduce deficits in the long term. Evidence shows it will have a negligible impact on inflation in the immediate term and will reduce inflationary pressures over the long run. And investments like those to address the national child care crisis, expand the Child Tax Credit, lower out-of-pocket costs for healthcare and prescription drugs and accelerate the transition to a greener economy will cut taxes and reduce costs for an average family of four by $7,400—all without adding to the deficit.
“Failure to pass the Build Back Better Act would harm families across the country, including the more than 180,000 West Virginia families represented by Senator Manchin, who have relied on the expanded CTC as a critical lifeline during this strong but uncertain recovery.
“We must find a way forward on the Build Back Better Act. U.S. workers and families cannot afford the alternative.”