Washington, D.C. – The following statement can be attributed to Neil Bradley, Executive Vice President and Chief Policy Officer, U.S. Chamber of Commerce.
“With prices rising 6.8% over the past year, squeezing budgets for families and small businesses alike, it is time for Congress to hit pause on the reconciliation bill and not add any more fuel to the inflationary fire.
“The already enacted American Rescue Plan will result in over $525 billion in additional spending and tax cuts in FY 2022, per the Congressional Budget Office. The House-passed reconciliation bill would add another $150 billion in transfer payments and tax cuts as well as additional spending. All of this is a recipe for more inflation throughout the next year. Rather than ‘building back better’– the reconciliation bill will just be bringing back bad inflation.”