Yes, it’s bad. Gas and rent are very high. People are broke and not spending. Everyone in retail, including myself, is feeling it.
lower tariffs, subsidize capital investment into production of lumber/housing, aggressively push and fight for higher density residential zoning, limit leverage allowed for investors of buy and hold rental properties, eliminate capital gains tax advantage for income above $1 million/year, enact temporary taxes on non essential consumption items, restart student loans (billions a month in excess spending for consumers). Etc etc
Instead they keep trying to tie BBB to inflation fighting, when its provisions are nothing of the sort.
They handed consumers far too much money, and need to suck it back up in a way that targets discretionary spending (vs essential spending). Too bad they won't...
But they are proposing BBB, not these things. Reconciliation does have limitations in that the matters must be budget related, but seems pretty easy to fit most of these under that umbrella.
They can resume student loans at the stroke of a pen
Local restaurants that survived Covid are shutting down due to cost of food. Others are adding x% to food bill to cover cost. Things are rising so fast they don’t want to keep ordering new menus.
I have to imagine consumers will become tired of the cost increases - we put up with it a few months, and decided "no".