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      build back better

      Sen. Chuck Schumer in the Senate building

      Far From Perfect, But the Inflation Reduction Act Is a Major Step in the Right Direction

      This legislation is not as good as the original Build Back Better bill, but it is certainly progress.

      Joseph Stiglitz
      Aug 10, 2022

      U.S. Senate Democrats' compromise bill, the Inflation Reduction Act (IRA) of 2022, addresses not just inflation but also several key longstanding problems facing our economy and society.

      There is a simmering debate about the causes of today's inflation; but regardless of what side one takes, this bill represents a step forward. For those worried about excessive demand, there is more than $300 billion in deficit reduction. And on the supply side, the bill would mobilize $369 billion of investments in energy security and decarbonization. That will help bring down the cost of energy--one of the main drivers of current price growth--and put America back on track to reduce its carbon dioxide emissions by some 40% (from 2005 levels) by 2030.

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      Opinion
      inflation reduction act
      Derrick Davis, a member of West Virginia New Jobs Coalition, hangs up signage during a community gathering and job fair on April 8, 2021 in Charleston, West Virginia

      'Penny Wise and Pound Foolish': Democrats Urged to Reject Pivot to Austerity

      "Without further action, the economic gains we've made since we passed the American Rescue Plan will be erased," argued an alliance of grassroots organizations.

      Jake Johnson
      Apr 26, 2022

      Grassroots progressive groups on Tuesday urged Democratic congressional leaders to ignore Republicans, right-wing members of their own party, and neoliberal economists who are pushing lawmakers to hit the brakes on federal spending as inflation surges to levels not seen in decades.

      "Pulling back on effective, popular investments will not solve the problems we face."

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      Austerity
      Sen. Joe Manchin

      Means Testing Will Ruin the Expanded Child Tax Credit

      Restrictive means tests keep Americans poor, sick, hungry, and homeless. It's time to debunk the tired old lies they're based on.

      Rev. Dr. William J. Barber Ii
      Rev. Dr. Liz Theoharis
      Shailly Gupta Barnes
      Feb 03, 2022

      Lawmakers are scrambling to revive the Child Tax Credit after Senator Joe Manchineffectively killed it along with the Build Back Better Act.

      Through immoral and unsound economic sophistries, Manchin has now recruited more of his Congressional colleagues to support a dangerous "compromise": including "means testing" and work requirements to limit the credit. After months of broken promises, we don't have faith that Manchin will support this bill even with his compromises. But we do know that this one will come on the backs of the poor.

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      Opinion
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