ICYMI: 56 Economists Call on Congress to Pass Build Back Better to Lower Prices for American Families

This morning, a group of 56 leading economists signed a letter urging Congress to pass the President's Build Back Better agenda, praising the bill's capacity to reduce costs for working families on key expenses.

The letter states that "Congress can alleviate some of the strain caused by inflation by passing the Build Back Better Act, which will lower everyday costs for families, including child care, health care, utility bills, prescription drugs, and education."

Signatories of the letter include Alan Blinder, former vice chairman of the Board of Governors of the Federal Reserve, and Elgie Holstein, former special assistant to the president for economic policy at the White House National Economic Council. The economists agrees with the Biden Administration that the Build Back Better Act will create millions of jobs, lower costs, and cut taxes in ways that produce stronger economy for American families.

Read coverage of the letter below:

Axios: Economist group touts Build Back Better as inflation offset
[by Kate Marino, 12/10/2021]

With inflation numbers expected to come out hot this morning, a group of 56 economists says President Biden's Build Back Better Act would counteract the impact of rising prices on Americans' wallets.

Driving the news: The economists signed a letter, released Friday morning in conjunction with left-leaning advocacy group Invest in America Action, urging Congress to pass the social spending plan swiftly, in order to get the ball rolling on programs that will lower costs for essentials like child care, health care and education.

Notable signatories include Alan Blinder, former vice chairman of the Board of Governors of the Federal Reserve, and Elgie Holstein, former special assistant to the president for economic policy at the White House National Economic Council.

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The backstory: While Republican groups insist that Build Back Better spending would further stoke inflation, the White House cites statements like this one from 17 Nobel laureates to argue the opposite, as Axios' Hans Nichols has reported.

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