Socialist Sen. Bernie Sanders (I-VT) stated Wednesday all 50 Democrat Senators will support the $3.5 trillion trojan horse reconciliation package “at the end of the day” to meet Sen. Chuck Schumer’s (D-NY) resolution deadline to draft the bill’s text.
“At the end of the day, we will have all 50 on board for the most consequential piece of legislation for the families in the modern history,” Sanders said via a CNN report.
Sanders was most likely referencing Sens. Jon Tester (D-MT) and Joe Manchin (D-WV), who remain uncommitted to the $3.5 trillion “infrastructure” package due to “inflation” and “taxes.”
“I’m concerned about inflation, I’m concerned about a competitive tax code, I’m concerned about environmental standards that basically leave people behind in all these things,” Manchin explained.
At least one of those concerns Schumer will address Wednesday by releasing a report that argues spending trillions will “ease inflation pressures.”
The report written by Moody’s chief economist Mark Zandi claims inflation worries are “overdone,” because “much of the additional fiscal support … is designed to lift the economy’s longer-term growth potential and ease inflation pressures.”
Schumer using the report to push the $3.5 trillion trojan horse package comes as the Producer Price Index rose 7.3 percent in June from 12 months earlier, the largest demand since 12-month data was first introduced in 2010. By contrast to May, the index increased one percent. On average during the pre-pandemic Trump administration, the index increased by around 0.2 percent per month.
The White House admitted July 14 that Senate Democrats lack the votes to pass the measure, which includes expanding Medicare, global warming initiatives, and suburb displacement with low-income housing, subsidized housing, subsidized child care, and subsidized racial equity and environmental justice.