Democrats shut their eyes to inflationary impact of Biden’s big spending bills

Democrats killed a resolution seeking information from the Treasury on how spending affects inflation 

Peter Kasperowicz / FOXBusiness

 

House Democrats rejected a resolution demanding an assessment from the Treasury Department on whether President Biden’s biggest spending bills over the last two years are contributing to inflation.

The GOP resolution requires the Treasury to provide any analysis it has done on this topic to Congress, and it was brought up Thursday at the House Oversight and Reform Committee markup. The resolution targets the $1.2 trillion infrastructure bill Biden signed in 2021, and the $750 billion Inflation Reduction Act he signed this year — economists have said both spending bills juiced demand in the U.S. and contributed to inflation levels that haven’t been seen in decades.

But Democrats voted to report the resolution "unfavorably" to the House floor, effectively killing it. Rep. James Comer, R-Ky., the top Republican on the committee, accused Democrats of willfully ignoring the inflationary effects of the trillions of dollars in spending approved by the Biden administration. Read more and see video here.