Psaki on Inflation Concerns with Spending Bill: It Cuts Child Care, Health, and Housing Costs, Will Help Inflation in the Long Term

On Monday’s broadcast of CNN’s “Situation Room,” White House Press Secretary Jen Psaki responded to inflationary concerns about the Build Back Better reconciliation bill by arguing that inflation increases cost and the bill will lower the costs of child care, health care, and housing and economists say the plan will help inflation in the long term.

Host Wolf Blitzer asked, “Should that spending plan, though, be delayed, Jen, until next year, given that inflation here in the United States has now risen to a 30-year high?”

Psaki responded, “Well, first, Wolf, inflation, which is something we certainly watch closely and any cost increase for the American people is something that’s of concern to the president. But what this bill will do is lower costs, and the way inflation impacts people at home is it increases costs of, whether it’s goods or housing or health care. And what this bill does is it lowers costs. It’s going to cut the cost of child care. It’s going to cut the cost of health care. For people out there who rely on insulin, it caps the cost at $35. That’s going to have a huge impact. It will help invest in building housing units so that people can go and find affordable housing. So, this is a bill about cutting costs. That’s exactly what the American people need right now and economists across the board will say this will actually help reduce inflation, address inflation over the long term.”

She added that the bill will help address gas prices over the long run by investing in clean energy, and that in the short term, the White House will go after price gouging and look into every other option to lower gas prices.

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