Representative Andy Biggs (R-AZ) warned that the Democrat’s $1.2 trillion infrastructure bill was causing significant “inflationary pressure” and had questionable revenue sources during an appearance on Fox Business Network.
“[T]his particular bill – by the way, these bills are linked. Don’t let anybody kid you. These two bills are linked, and you know that, and they know it as well. So, they are deflecting. But, if this is an inflationary bill, this one, the infrastructure, as well as the reconciliation bill, what’s going to happen is they’re not telling you. They’re forgetting apparently that $400 billion of that bill is – has no spending or excuse me, no revenue source attached to it.”
“And then, you’re going to throw that out there and further devalue our money, and that’s inflationary pressure all over the place. And, you’re getting a basically a pittance of what you should be getting a traditional infrastructure spending, and there were three Republican bills that would have addressed both those issues.”
The Arizona Republican lawmaker said Democrats and the Republicans who supported the bill’s passage would regret that support when inflation starts to impact energy prices.
“[M]ake no mistake: They will reduce the spending upfront, but they’re going to institute programs that are long term,” Biggs added. “So, this is like allocating one-time dollars to spend for ongoing programs. And, that’s going to be inflationary in and of itself. They are going to put mandates and regulations that are going to also stifle the economy. And, they think that they’re going to have a big win here. But, when heating oil goes up this winter, and you throw the inflation in there as well, it’s going to be tough for Democrats to justify this and quite frankly, my Republican colleagues who’ve supported this.”
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