Economist Stephen Moore told Newsmax TV Wednesday that there is nothing salvageable in President Joe Biden’s “Build Back Better” bill that would help the U.S. economy.
“There is nothing salvageable about (the Build Back Better Bill),” Moore said during an interview on Newsmax. “If you care about jobs, if you care about stopping rising prices at the grocery store and the gas pump, the best thing that could happen to America is to kill every word of that bill.”
Moore, a senior fellow at the Heritage Foundation who advised former President Donald Trump on economic issues, said that he does not want to see any part of the massive $1.75 trillion plan “resurrected.”
“Not the higher taxes, not the welfare programs, not the war on American energy, not the war on America’s small businesses, not the increase in regulations, and not the 80,000 more (Internal Revenue Service) agents,” he said. “I cannot find a single feature of that bill worth saving.”
On Sunday, Sen. Joe Manchin, D-W.Va., effectively killed any chance to pass Biden’s signature legislation, which included expanding healthcare, providing universal childcare, free college tuition, and several climate change initiatives, by saying he would vote against the bill in the Senate.
All 48 Democrats and two independents must vote to pass the legislation for Vice President Kamala Harris to cast the tie-breaking 51st vote.
The bill was initially introduced with a cost of $3.5 trillion, but that amount was scaled back when Manchin and Sen. Krysten Sinema, D-Ariz., said they would not vote for it unless the cost was lowered.
Despite the reduced cost, and the House version being passed earlier this year, the bill appears to be dead in the Senate with all 50 GOP members opposing it.
Moore said that it is hard to find any modern president that has had a worst first year in office with problems on many fronts including the withdrawal from Afghanistan, the COVID-19 pandemic, the supply chain disruptions, rising inflation, and a worker’s shortage.
“The problems are just mounting,” he said. “I wouldn’t want to be in the Biden White House right now.”
He also took exception to Biden’s recent assertion that he inherited a bad economy from Trump when he took office in January.
“The economy I inherited nearly a year ago wasn’t just in crisis,” Biden said during a televised speech Wednesday. “It wasn’t working for working people.”
Moore countered by saying that people he meets on the street want the Trump economy to return.
“It’s true, the Trump economy wasn’t good. It was fantastic,” Moore said. We had the best economic boom in 30-40 years.”
Moore said that under Trump, the nation had the highest wage growth, and the lowest poverty and unemployment in decades.
“It was a booming economy,” he said.
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