© 2026 ABC News

Biden also noted that he has assured Federal Reserve Chairman Jerome Powell that he is committed to the independence of the Fed, and encourages Powell to take whatever steps necessary to keep the economy strong.

Biden then turned to the elephant in the room -- the $4 trillion+ in additional government spending he’s pursuing.

“If we increase the availability of quality, affordable child care, elder care, paid leave, more people will enter the workforce. These steps will enhance our productivity, raising wages without raising prices. That won't increase inflation. That will take the pressure off of inflation,” Biden said, referring to the $3.5 trillion “human infrastructure” plan Democrats on Capitol Hill are seeking to pass without any bipartisan support through special Senate budget rules.

“If your primary concern right now is inflation, you should be even enthusiastic about this plan,” Biden added.

“What we can't do, is go back to the same old trickle-down theories, that gave us nearly two trillion dollars in deficit finance corporate tax giveaways, that did nothing to make our economy more productive or resilient,” Biden warned. “We can't go back to the old failed thinking.“

With a key procedural vote this week in the Senate on the bipartisan infrastructure framework, Biden reminded lawmakers they already had a deal.

\"Whatever different views some might have on current price increases, we should be united in one thing: Passage of the bipartisan infrastructure framework which we shook hands on. We shook hands on,\" Biden said.

\"PHOTO:
Andrew Harnik/AP
PHOTO: President Joe Biden speaks about the economy and his infrastructure agenda in the State Dining Room of the White House, in Washington, July 19th, 2021.
>

Despite attempting to sell his spending packages, Biden did not address the fact that so many questions about the packages remained unanswered ahead of Wednesday deadlines set by Senate Majority Leader Chuck Schumer: a key procedural vote on a bipartisan $1.2 trillion traditional infrastructure spending bill, and a self-imposed deadline for members of his own party to reach agreement on a $3.5 trillion spending package, which covers the majority of Biden's American Families Plan agenda, including childcare, free community college, and provisions to lower health care costs.

Top Republican negotiator Sen. Rob Portman expressed frustration Sunday with the state of the talks.

\"We shouldn't have an arbitrary deadline of Wednesday. We should bring the legislation forward when it's ready… it's got to be done in a thoughtful, bipartisan way. We don't want to rush this process or make mistakes,\" Portman said in an appearance on CNN's \"State of the Union.\"

One remaining hurdle is how to pay for all the spending, after Democrats agreed to drop IRS tax enforcement provisions that were estimated to net $100 billion over ten years in the face of Republican pushback. President Biden has called for both spending bills to be fully paid for, mostly through tax increases on the wealthy and corporations.

\"How do we vote on something which is not yet written as we try and get it right?\" Senator Bill Cassidy, R.-La., asked in a \"Fox News Sunday\" interview. \"We can get it done, but if they refused to cooperate on the pay-fors, it's not going to pass. They know that.\"

","canonicalUrl":"https://abcnews.com/Politics/biden-pushes-back-inflation-fears-ahead-infrastructure-plan/story?id=78925390","legacySlug":"/news/story/biden-pushes-back-inflation-fears-ahead-infrastructure-plan-78925390","noIndexNoFollow":false},"publishTime":"17:56","publishDate":"07-19-2021","updatedTime":"10:18","updatedDate":"07-20-2021","socialImage":{"alt":"President Joe Biden speaks about the economy during the Covid-19 pandemic in the State Dining Room of the White House in Washington, D.C., July 19, 2021.","credit":"Saul Loeb/AFP via Getty Images","ratio":"16x9","url":"https://s.abcnews.com/images/Politics/biden-gty-ml-210719_1626709784389_hpMain_16x9_1600.jpg","width":992,"height":558},"datePublished":"7/19/2021 17:56:00 GMT","video":{"live":false,"id":78925390,"headline":"Biden pushes back on inflation fears","mediaAssetTitle":"BIDEN/INFRASTRUCTURE","description":"He said those worried should be \"enthusiastic\" about his big spending package.","duration":"1:37","posterImg":{"url":"https://s.abcnews.com/images/GMA/default-img-undefined.png","width":608,"height":342},"video":{"feed":"https://service-pkgabcnews.akamaized.net/opp/hls/abcnews/2021/07/210719_nwo_biden_,500,800,1200,1800,2500,3200,4500,.mp4.csmil/playlist.m3u8"},"playlist":["132306053","132266872","132055565"]},"relatedItems":[{"contentType":"video","date":"April 23, 2026","headline":"Trump orders Navy to 'shoot and kill' any boat laying mines in Strait of Hormuz","section":"News","slug":"/video/132306053","id":"132306053","image":{"alt":"VIDEO: Trump orders Navy to 'shoot and kill' any boat laying mines in Strait of Hormuz","credit":"ABCNews.com","ratio":"1x1","url":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_1x1_608.jpg","width":384,"height":384},"images":{"alt":"VIDEO: Trump orders Navy to 'shoot and kill' any boat laying mines in Strait of Hormuz","credit":"ABCNews.com","crops":[{"16x9":{"small":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_16x9_608.jpg","medium":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_16x9_992.jpg","large":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_16x9_1600.jpg"}},{"9x16":{"small":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_9x16_608.jpg","medium":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_9x16_992.jpg","large":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_16x9_1600.jpg"}},{"1x1":{"small":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_1x1_608.jpg","medium":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_1x1_992.jpg","large":"https://s.abcnews.com/images/GMA/260423_gma_scott_ceasefire3_hpMain_1x1_1600.jpg"}}]}},{"contentType":"video","date":"April 22, 2026","headline":"Fallout after Fed nominee grilled on Capitol Hill","section":"News","slug":"/video/132266872","id":"132266872","image":{"alt":"VIDEO: Fallout after Fed nominee grilled on Capitol Hill","credit":"ABCNews.com","ratio":"1x1","url":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_1x1_608.jpg","width":384,"height":384},"images":{"alt":"VIDEO: Fallout after Fed nominee grilled on Capitol Hill","credit":"ABCNews.com","crops":[{"16x9":{"small":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_16x9_608.jpg","medium":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_16x9_992.jpg","large":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_16x9_1600.jpg"}},{"9x16":{"small":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_9x16_608.jpg","medium":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_9x16_992.jpg","large":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_16x9_1600.jpg"}},{"1x1":{"small":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_1x1_608.jpg","medium":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_1x1_992.jpg","large":"https://s.abcnews.com/images/GMA/260422_gma_schulze_fed3_713_hpMain_1x1_1600.jpg"}}]}},{"contentType":"video","date":"April 15, 2026","headline":"American influencer found dead in Tanzania","section":"News","slug":"/video/132055565","id":"132055565","image":{"alt":"VIDEO: American influencer found dead in Tanzania","credit":"ABCNews.com","ratio":"1x1","url":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_1x1_608.jpg","width":384,"height":384},"images":{"alt":"VIDEO: American influencer found dead in Tanzania","credit":"ABCNews.com","crops":[{"16x9":{"small":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_16x9_608.jpg","medium":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_16x9_992.jpg","large":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_16x9_1600.jpg"}},{"9x16":{"small":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_9x16_608.jpg","medium":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_9x16_992.jpg","large":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_16x9_1600.jpg"}},{"1x1":{"small":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_1x1_608.jpg","medium":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_1x1_992.jpg","large":"https://s.abcnews.com/images/GMA/260415_gma_norwood_ashlee2_732_hpMain_1x1_1600.jpg"}}]}}],"relatedContentSection":"news","schemaContent":{"name":"Biden pushes back on inflation fears","description":"He said those worried should be \"enthusiastic\" about his big spending package.","duration":"1:37","uploadDate":"07-19-2021","publication":"07-19-2021","images":"https://s.abcnews.com/images/GMA/default-img-undefined.png","url":"https://service-pkgabcnews.akamaized.net/opp/hls/abcnews/2021/07/210719_nwo_biden_,500,800,1200,1800,2500,3200,4500,.mp4.csmil/playlist.m3u8","contentUrl":"https://service-pkgabcnews.akamaized.net/opp/hls/abcnews/2021/07/210719_nwo_biden_,500,800,1200,1800,2500,3200,4500,.mp4.csmil/playlist.m3u8","link":"https://www.goodmorningamerica.com/news/story/biden-pushes-back-inflation-fears-ahead-infrastructure-plan-78925390"}},"playlist":[{"id":"132283010","contentType":"story","section":"news"},{"id":"132273278","contentType":"story","section":"news"},{"id":"132231169","contentType":"story","section":"news"},{"id":"132206748","contentType":"story","section":"news"},{"id":"132200241","contentType":"story","section":"news"},{"id":"132054443","contentType":"story","section":"news"},{"id":"132054798","contentType":"story","section":"news"},{"id":"132033010","contentType":"story","section":"news"},{"id":"131912713","contentType":"story","section":"news"},{"id":"131830583","contentType":"story","section":"news"},{"id":"131834976","contentType":"story","section":"news"},{"id":"131554765","contentType":"story","section":"news"},{"id":"131554815","contentType":"story","section":"news"},{"id":"131543053","contentType":"story","section":"news"},{"id":"131432442","contentType":"story","section":"news"},{"id":"131121474","contentType":"story","section":"news"},{"id":"131247079","contentType":"story","section":"news"},{"id":"131228784","contentType":"story","section":"news"},{"id":"131178806","contentType":"story","section":"news"},{"id":"131142257","contentType":"story","section":"news"}],"kvps":{"pgtyp":"article","lang":"en","sp":"goodmorningamerica","programmatic":"true","bundleId":"com.abcnews"}},"analytics":{"accountID":"wdgnewwdgnewgmaweb","ns":"gma","pageName":"gma:news:video","pageType":"video","globalSpecVersion":"v1.08","siteDifferentiator":"gma:site","tagID":"g_page01","userABCookie":"0","section":"news","title":"Biden pushes back on inflation fears","pubTime":"13:56","pubDate":"07-19-2021","modTime":"06:18","modDate":"07-20-2021","taxonomyTags":"none","id":78925390,"editorialOtherSubjects":"","wordCount":"none","columns":"none","authors":"","authorsUnit":"none","authorsBureau":"none","subBrand":"Good Morning America","provider":"Good Morning America","videoName":"Biden pushes back on inflation fears","mediaAssetTitle":"BIDEN/INFRASTRUCTURE","videoId":78925390,"mediaOnPage":"video","legacySlug":"/news/story/biden-pushes-back-inflation-fears-ahead-infrastructure-plan-78925390"},"taboola":{}},"request":{"headers":{},"httpVersion":"1.1","method":"GET","url":"/video/78925390","vary":{"host":"www.goodmorningamerica.com","cached":true,"path":"/video/78925390","forwarded-proto":"https","device":"desktop","userab":"0"}},"viewport":{"width":1260,"height":0},"user":{}};