Leading Rating Agency Concludes Passage Of Build Back Better Act Will Ease Inflation

WASHINGTON, Dec. 9, 2021 /PRNewswire/ -- Analysis by economists at Moody's Analytics shows passage of the Build Back Better Act will help ease inflation. With concern about inflation in the news, Moody's chief economist told Reuters that the Build Back Better Act along with recent infrastructure investments will "lift long-term economic growth via stronger productivity and labor force growth, and thus take the edge off of inflation."

Elgie Holstein, Senior Director for Strategic Planning at Environmental Defense Fund and former Special Assistant to the President for Economic Policy at the National Economic Council, commented, "It's clear the Build Back Better Act will lower energy costs for families while easing inflation. It's a win-win for the American people. This conclusion by leading economists that passing the Build Back Better Act will ease inflation makes the case for the bill that much stronger.

"We already know the Build Back Better will save American families on energy bills – growing to $500 a year. That's one-third of an average family's energy costs," Holstein said. "The clean energy incentives alone will save utility customers and companies more than $9 billion each year, according to an analysis from experts at RMI. These savings aren't speculative, but part of a proven trend: The cost of solar energy dropped 90% and the cost of wind dropped 70% in the decade after the last major federal investment in clean energy. For Americans worried about inflation and their household budgets, the Build Back Better Act could not come at a better time."

EDF Action, the advocacy partner of the Environmental Defense Fund, builds transformative political power to help protect the environment and the health of American families. EDF Action works with a broad range of allies all across the country to combat climate change, reduce pollution and promote sustainable prosperity.

SOURCE EDF Action