CNN’s Kate Bolduan Presses Biden Economic Advisor: Are You ‘Comfortable’ with Inflation Reduction Act Having ‘Negligible’ Effect on Inflation
CNN’s Kate Bolduan pressed Cecelia Rouse, the Chair of the White House Council of Economic Advisors, on the Inflation Reduction Act and whether it will actually have the impact on record inflation that the name seems to suggest.
On Tuesday’s At This Hour, Bolduan referenced the Congressional Budget Office’s report that the massive spending bill will have a “negligible” impact on inflation in the next couple of years.
“Democrats titled this bill the Inflation Reduction Act, which begs of course for voters to hold you all accountable to that… the Congressional Budget Office, the non-partisan kind of scoring organization for legislation, says that the bill would have negligible impact on inflation this year and next,” Bolduan said.
She then asked Rouse whether she was “personally comfortable,” as an economist, with the title of the bill.
Rouse did not directly answer the question, but said the bill puts forth “represents really important investments we know we need to make that help to expand our economic capacity” and she suggested that investments in “supply supports” will help in supply meeting demand.
“But if you passed a bill called the Fill Every Pot Hole Act, I mean voters should expect you to fill every pot hole. So should voters measure the success of this bill on how much you reduce inflation in the next couple years?” Bolduan responded.
“This bill spans out over several years. The tax provisions, for example some of the tax revenue, will happen immediately. Some of the benefits in terms of deficit reduction will materialize over time,” Rouse said, adding that the bill represents “transitioning to an economy that works better for American families by generating the kind of growth that’s based on stable, steady productivity gains.”
Without her issue really answered, Bolduan simply laughed and concluded on the subject: “A name is just a name, but there are definitely a lot of other names you could have named this bill.”
Watch above via CNN.
