WASHINGTON (NEXSTAR) — On Thursday, President Joe Biden touched down in Cleveland Ohio to tout the nation’s economic recovery.
“Our future today is as bright and as wide open as it ever has been,” Biden said.
Biden says since passing the American Rescue Plan, the number of Americans vaccinated, back to school and back to work has soared.
“And now, we’re faced with a question: What kind of economy are we going to build for tomorrow?” Biden said.
He’s says Congress must invest big in infrastructure. His nearly $2 trillion American Jobs Act would fund not just infrastructure but child care and jobs.
“This is our moment to rebuild an economy from the bottom up and the middle out,” Biden said.
But back on Capitol Hill, Republicans say funneling even more money into the economy will backfire and make current inflation rates worse. They also say the president’s proposal has little to do with infrastructure.
“What he’s asking me to do is buy a car to get the cupholders,” Sen. John Kennedy, R-La., said.
“We’re not going to get a bipartisan deal that way,” Sen. Roy Blunt, R-Mo., said.
Republicans on Thursday introduced their nearly $1 trillion counteroffer.
Instead of using new money, the plan would repurpose unused COVID-19 relief funds.
“If you don’t want to fuel inflation further but you do want to do a good thing like infrastructure, look for money that you’ve already appropriated but is not being spent,” Blunt said.
At a budget hearing, U.S. Treasury Secretary Janet Yellen defended the administration’s tactics and insisted inflation is only temporary.
“It’s not something that is endemic,” Yellen said.