Biden: Reconciliation spending package will lower inflation

President Joe Biden speaks about the economy during a meeting with CEOs in the South Court Auditorium on the White House complex in Washington, Thursday, July 28, 2022. Biden was updated on economic conditions across key sectors and industries. (AP Photo/Susan Walsh)

President Joe Biden speaks about the economy during a meeting with CEOs in the South Court Auditorium on the White House complex in Washington, Thursday, July 28, 2022. Biden was updated on economic conditions across key sectors and industries. (AP Photo/Susan Walsh)

OAN Newsroom
UPDATED 8:39 AM PT – Friday, July 29, 2022

President Joe Biden claims the latest proposed reconciliation package will bring down rampant inflation. During a press conference at the White House Thursday, he asserted the bill will lower the cost of living for Americans and even cut the federal deficit.

Despite the bill’s supposed intent to reduce inflation, Biden said it will significantly address what he called the “climate crisis” and be an investment in so-called “environmental justice.” The President highlighted former Vice President Al Gore’s support of the legislation as well as far-left Sen. Elizabeth Warren’s.

Biden also touted the inclusion of hundreds of millions of dollars in tax credits for renewable energy development. The President then claimed America is not in a recession, despite economists saying otherwise. One America’s Lexington Howe has more.

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