Democrats’ health and climate deal ‘may be disinflationary by causing a recession,’ Sen. Cassidy argues
As Senate Democrats push a major economic, health and environmental proposal, “much of what they’re saying about this bill is just not true,” Sen. Bill Cassidy, R-La., contended on Sunday. “It may be disinflationary by causing a recession,” Cassidy told ABC “This Week” co-anchor Jonathan Karl. The Inflation Reduction Act was announced Wednesday after months of negotiations between Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.Va. The bill would pay down about $300 billion from the national debt and invest about $370 billion in energy and climate programs over the next 10 years, the lawmakers said, with revenue raised from increasing corporate taxes and enhancing IRS enforcement.