What Should Come Next for the Build Back Better Act?
After passing the house, the Democrats’ social spending bill, the Build Back Better Act, is headed to Senate, where its fate is uncertain.
Several key areas will see alterations; nearly all of them will either reduce the bill’s price tag or raise its revenue. Either way creates a pool of money that must be put to use to make some of the major elements of BBB permanent or more financially secure.
The Senate should kill this bill and pour salt in the sand on its burial site so it never comes back. More debt, spending and printing of money at this stage of our economic recovery would be the equivalent of pouring gasoline on an inflation forest fire.
On climate change, the bill lacks any enforceable carbon tax, cap or regulatory program to force down greenhouse emissions. Instead, it proposes vast subsidy programs… Improving the legislation should not be too much for Americans to expect.