August 13, 2022 2:48pm EDT
Dems don't say when spending bill will reduce inflation, maintain it will cut energy and health care costs
Democrats passed their bill, which would raise over $700 billion in tax revenue and spend over $400 billion, in a party-line vote Friday
By Tyler Olson | Fox News
Democrats who passed their social spending and taxation bill Friday wouldn't say exactly when they believe the legislation will start cutting inflation, but they firmly maintained it would, particularly on energy and health care.
The comments come as Democrats tout the bill, the "Inflation Reduction Act," as one of their top legislative achievements this Congress. The bill would raise over $700 billion in tax revenue and spend more than $400 billion. It now awaits President Biden's signature.
But analyses of the bill say it would have very little, if any, effect on inflation. Even Sen. Bernie Sanders, I-Vt., said the bill "will in fact have a minimal impact on inflation."
Several Democrats who spoke with Fox News Digital Friday disagreed, even if some did not specify exactly when Americans will feel the bill's effects.
Rep. Debbie Dingell, D-Mich., emphasized the health care provisions of the bill in an interview with Fox News Digital. She said Americans will notice the effects of the "Inflation Reduction Act," when they "see a reduction in the cost of their drugs, when people go to pay for affordable care, it will continue to be something they can afford on the exchanges."
On concerns the bill won't cut inflation, including from Sanders, Dingell said she believes he and other skeptics will be surprised.
"I have a great deal of respect for Sen. Sanders, but this is the single biggest investment in health care and in the environment that we've done in decades," she said. "And I think we will see the results."
Rep. Jamie Raskin, D-Md., said he hopes the bill will provide immediate relief to Americans. But he didn't detail when or how that would happen.
more
https://www.foxnews.com/politics/dems-dont-say-when-spending-bill-reduce-inflation-maintain-cut-energy-health-care-costs
