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With inflation rising to its highest levels in over 30 years, Democrats must make sure they don’t exacerbate the problem. But the Build Back Better bill currently being considered by Congress would pour roughly $200 billion of deficit-financed fuel on the fire in its first year alone. Even worse, the bill threatens to turn potentially transformative policies into something temporary that angers voters and returns Republicans to power.
The solution isn’t to abandon President Biden’s agenda. There’s still time for Democrats to give priority to a few key programs in a focused and sustainably financed “kids and climate” bill, like the moderate New Democrat Coalition and many others have long advocated doing.
Sen. Joe Manchin and House moderates do their progressive colleagues a favor by demanding a bill that is fully funded without shell games and budget gimmicks. Pivoting to such a bill would shield Democrats from inflation risks and allow them to make permanent progressive policies that otherwise might vanish.
The Build Back Better Act Must Adjust to
Address Inflation Concerns
by Ben Ritz, Director of PPI's Center
for Funding America's Future
for The Wall Street Journal
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