In this case, we project that bill would add up to a third of a percentage point to near-term inflation and have a negligible impact on inflation in later years. PWBM considers an illustrative alternative where temporary major spending provisions in the bill were made permanent. The bill would reduce inflation later in the decade as temporary provisions phase out. PWBM projects that the bill, as written, would add 0.1 to 0.2 percentage points to consumer price inflation over the next two years. 5376) would impact consumption expenditures over the next decade. PWBM examines how each of the more than 500 provisions in the Build Back Better Act (H.R. As an illustrative alternative, if temporary major spending provisions were made permanent, the bill would add up to a third of a percentage point to near-term inflation and have a negligible impact on inflation later in the decade. 5376), as written, would add up to 0.2 percentage points to inflation over the next two years and reduce inflation by similar amounts later in the decade.

Summary: PWBM projects that the spending and taxes in the Build Back Better Act (H.R.

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