Understanding the Impact of $1.9 Trillion ARP on Inflation
Many economists note the war in Ukraine, existing supply chain issues are to blame
President Joe Biden's American Rescue Plan is perhaps his most significant legislative accomplishment in his first year and a half in office.
But the sweeping $1.9 trillion COVID-19 relief bill is also at the center of a debate over raging inflation, with Republicans pointing the finger at Biden and his progressive policies.
The White House maintains the bill was essential to ushering in the economic recovery, physically reopening schools and distributing vaccines during a deeply uncertain pandemic. Biden, as recently as Thursday, dismissed the notion that his relief plan fueled increases in prices.
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