Top Biden economic adviser optimistic as Build Back Better Act heads to Senate

Brian DeeseBrian DeeseBiden seeks to save what he can from Build Back Better Momentum builds to prohibit lawmakers from trading stocks Hillicon Valley — Airlines issue warning about 5G service MORE, director of the White House's National Economic Council, expressed optimism about the Build Back Better Act's prospects days after President BidenJoe BidenUS threatens sweeping export controls against Russian industries Headaches intensify for Democrats in Florida US orders families of embassy staff in Ukraine to leave country MORE's social spending package passed in the House.

Speaking with "Fox News Sunday" guest host Bret Baier, Deese defended the bill against criticisms that it could worsen already elevated inflation.

"There's no question inflation is high and it's affecting American consumers and it's affecting their outlook, but that's actually why we need to move on this Build Back Better bill right now," said Deese.

"Experts across the board have looked at it and have concluded that it won't increase inflation because it's paid for," he added. "When you pay for investments, you don't actually add aggregate demand to the economy."

Deese argued that the bill, a crucial part of Biden's agenda, would cut Americans' bills, pointing to provisions included within it that would lower the cost of prescription medication, health care and housing.

Baier questioned if Deese expected the bill to shrink once it gets to the Senate and moderate lawmakers in the upper chamber question its provisions.

"We will work with every member of the Senate on this bill. But I think that because of that work over several months, we really do now have a good understanding of where the consensus lies," Deese said.

"I expected that as we move to the Senate we'll have a lot of momentum, we'll work as the congressional process does, we'll work to get a bill through the Senate. We need 50 votes, and then it will go back to the House and to the President's desk."