Dear Democratic Colleague on How the House Democratic Agenda Will Fight Inflation

Dear Democratic Colleague,

Today, I write to you with pride and appreciation for the House Democrats' overwhelming support of the America COMPETES Act of 2022. This critical legislation will bolster American independence and self-sufficiency in manufacturing and innovation, while positioning American interests and values to win the 21st Century. This legislation is also needed to contain inflation, and it will do so by committing $45 billion to address the supply chain challenge, which is raising costs for America's working families.

Fighting inflation is an important part of Democrats' economic agenda. Our Democratic Caucus has designed our House-passed Build Back Better Act to be a crucial tool in the fight against inflation: reducing the deficit for our country while creating jobs and lowering costs for our families. As 17 Nobel Prize-winning economists have explained: ‘Because this agenda invests in long-term economic capacity and will enhance the ability of more Americans to participate productively in the economy, it will ease longer-term inflationary pressures.'

Nonpartisan experts have repeatedly confirmed that Build Back Better is exemplary in its fiscal responsibility. As the Joint Committee on Taxation confirmed, our bill is not only fully paid for, but will even reduce the deficit by more than $100 billion in this decade and $2 trillion in the next decade. If unforeseen circumstances determine somehow that this legislation contributed to the deficit, House Democrats are committed to making up the shortfall through negotiated changes to the legislation, such as designating additional offsets, to preserve its fully paid-for status.

Build Back Better will also slash the everyday costs of health care, child care and family care that burden our families while creating good-paying new jobs. In doing so, we will empower parents to return to the workforce and unleash the full potential of America's families.

We continue to take great pride in our American Rescue Plan and Infrastructure Investment and Jobs Act – which are helping to power an historic economic recovery that has created 6.6 million new jobs, the most ever in a single year. Democrats remain laser-focused on creating jobs, lowering costs and cutting taxes for the American people, while making the wealthiest few and biggest corporations pay their fair share.

Thank you for your leadership For The People.

NANCY