Schumer Says the 230 Economists Who Wrote Letters to Congress Saying Dems’ Tax-and-Spend Bill Will Make Inflation Worse are “Wrong” (VIDEO)

Senate Majority Leader Chuck Schumer (D-NY) on Saturday spoke to reporters as the senate prepared for a ‘vote-a-rama’ to ram through the $740 billion tax-and-spend bill.

“A large percentages of Republicans out in the country support this bill,” Schumer said.

“We’re prioritizing the middle-class working families, those struggling to get to the middle class, instead of what Republicans do: prioritize those at the very top,” he added.

WATCH:

.@SenSchumer: “Large percentages of Republicans out in the country support this bill. […] We’re prioritizing the middle-class working families, those struggling to get to the middle class, instead of what Republicans do: prioritize those at the very top.” pic.twitter.com/QgjjVwWLPW

— The Hill (@thehill) August 6, 2022

“230 economists wrote letters to Congress saying that [the Bidenflation Scam] would actually add to inflation. Penn Wharton’s Budget Model said the same thing,” a reporter said to Schumer.

“They’re wrong,” Schumer said.

WATCH:

REPORTER: “230 economists wrote letters to Congress saying that [the Bidenflation Scam] would actually add to inflation. Penn Wharton’s Budget Model said the same thing.”

CHUCK SCHUMER: “They’re wrong.” pic.twitter.com/u8Qxma4fba

— RNC Research (@RNCResearch) August 6, 2022

More than 230 economists wrote letters to Congress warning that the ‘Inflation Reduction Act’ will make inflation worse.

Fox Business reported:

A letter sent to House and Senate leadership from 230 economists argues that the Inflation Reduction Act is expected to contribute to skyrocketing inflation and will burden the U.S. economy, contrary to President Biden and Democrats’ claims.

The economists wrote in the letter first obtained by Fox News Digital that the U.S. economy is at a “dangerous crossroads” and the “inaptly named ‘Inflation Reduction Act of 2022’ would do nothing of the sort and instead would perpetuate the same fiscal policy errors that have helped precipitate the current troubling economic climate.”

Sen. Joe Manchin, D-W.Va., announced last week he reached an agreement with Senate Majority Leader Chuck Schumer, D-N.Y., on the $739 billion reconciliation package after more than a year of negotiations among Democrats.

The economic experts point to the $433 billion in proposed government spending, which they argue “would create immediate inflationary pressures by boosting demand, while the supply-side tax hikes would constrain supply by discouraging investment and draining the private sector of much-needed resources.”

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