Deep Dive (Dec. 16): Sen. Graham on Biden’s Build Back Better Bill

Americans will likely see rate hikes in the new year as the Federal Reserve fights against inflation. The Federal Open Market Committee (FOMC) said in a statement, “In light of inflation developments and the further improvement in the labor market, the Committee decided to reduce the monthly pace of its net asset purchases by $20 billion for Treasury securities and $10 billion for agency mortgage-backed securities.” This comes as President Joe Biden’s roughly $2 trillion spending bill may not pass by the self-imposed Christmas deadline. Sen. Lindsey Graham (R-S.C.) had some thoughts on the bill: “My belief is that Build Back Better never gets better. It will never get better.”

The White House has a new plan to deal with the trucker shortage. The Supply Chain Disruptions Task Force aims to attract more truckers amid the worker shortage. It’s an effort to address a shortage that some industry insiders say has grown to 80,000 unfilled jobs. According to the American Trucking Associations, that could grow to 160,000 by 2030. The plan will earmark $30 million to expedite commercial driver’s licenses. The plan also establishes a joint initiative between the departments of Labor and Transportation to recruit new drivers.

The Senate approves the National Defense Authorization Act (NDAA) with a bipartisan vote. Included in it is an amendment to protect servicemen and women from getting dishonorably discharged. Sen. Roger Marshall (R-Kan.), who put forward the amendment, said “As a former Army doctor, I am proud the NDAA passed the Senate and included my amendment to ensure service members will be protected from a dishonorable discharge for choosing not to get the COVID vaccine.”

Tune into Deep Dive as we explore these topics and more.

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