Bipartisan Cost Coalition Statement: The BBB Debt Inflation Bomb Betrays Working Families

Cost Coalition Advisers Terry Holt, a Republican, and Andrew Bates, a Democrat, released the following statement on House Republicans’ voting to worsen inflation with tax cuts for the rich:

“House and Senate Republicans have voted to drag the American economy down with an unprecedented tax hike on working families - Trump’s tariffs - and an inflationary tax windfall for the rich. Families were counting on the lower costs that Donald Trump and congressional Republicans promised, but are instead struggling with even higher prices. Now the $4 trillion this tax giveaway for the wealthy adds to our debt will compound the economy’s biggest problem, raising costs for everything from groceries to cars and houses. And the biggest Medicaid and Affordable Care Act cuts in history will spike premiums, take coverage from millions, and close rural hospitals. Meanwhile, senseless energy cuts will raise utility bills and kill manufacturing jobs.  This inflation bomb is a betrayal of every American Washington pledged to help, and the only winners are China and billionaires.”

Terry Holt is a former spokesperson for President George W. Bush and House Speaker John Boehner. 

Andrew Bates was Senior Deputy White House Press Secretary under President Joe Biden.