House Speaker Nancy Pelosi (D-CA) alleged Tuesday that President Joe Biden's Build Back Better legislation would "lower costs" despite a recent report from the Labor Department revealing that inflation is increasing at a rate not seen in nearly four decades.
"Let me just say about the Build Back Better, because if there were two words that I would say that describe, it would be 'lowers costs,'" Pelosi said. "It lowers costs for healthcare, it lowers costs for education, it lowers costs for child care, it lowers costs for family home healthcare, for senior members of the family who need healthcare, siblings who may have disabilities, and the rest. It lowers cost, and that makes a very big difference."
She also said the prescription drug and food prices would be reduced, as well as "all of the things people struggle with over the kitchen table."
But last week, a report by the Labor Department's Consumer Price Index showed that inflation endured a 6.8 percent spike without seasonal adjustments over the course of 12 months, which was the fastest annual increase since 1982. And while the rise in inflation has been attributed to Biden’s abysmal approval ratings, Democrats insist that polling will reverse course once the president's social spending bill is passed.
Recommended
The House voted to pass the legislation last month after months of negotiation among House Democrats.
Senate Democrats are looking to vote on the bill by Christmas but moderate Democrat Sen. Joe Manchin of West Virginia has yet to express his willingness to support the legislation. And in a 50-50 majority split in the Senate, Democrats need every member of their party to vote in favor of the legislation for it to pass through the upper chamber. Manchin has previously voiced his concern over the cost of the bill, warning that it would contribute to rising inflation.
Join the conversation as a VIP Member