
President Biden argued that a massive influx of government spending bill will help fend off inflation, in a speech on the state of the economy at the White House on Monday.
The White House has dubbed the $1.2 trillion bipartisan infrastructure bill that Senate Majority Leader Chuck Schumer plans to bring to the floor this week — and the $3.5 trillion budget resolution that Democrats plan to pass in the coming days without Republican support — the “Build Back Better” package. Biden said Monday that the two bills will help prevent, rather than exacerbate, runaway inflation.