FACT CHECK: Did Joe Biden Propose A $2 Trillion Bill To Study The Cause Of Rising Inflation Rates?

Elias Atienza | Senior Reporter

A post shared on Facebook claims President Joe Biden proposed a $2 trillion bill to study the cause of rising inflation rates.

Verdict: False

There is no evidence Biden proposed a bill to study rising inflation rates. The claim appears to originate from a satire website.

Fact Check:

The consumer price index inflation report showed a 5 percent increase in prices in May over the last year, the biggest increase since August 2008, according to Forbes. The sharp increase in inflation is, in large part, due to the reopening of the economy after it was shut down during the COVID-19 pandemic, the outlet reported.

Now, some social media users are sharing posts claiming Biden proposed a “$2 Trillion Bill To Study What’s Causing Inflation Rates To Rise.” (RELATED: Did Joe Biden Say He And Kamala Harris Will Defund Social Security?)

There is no evidence, however, Biden proposed such a bill. Check Your Fact searched press releases and speeches published on the White House website, but found no indication Biden announced a bill to study the cause of rising inflation rates. No such bill could be found on Congress.gov, either. Had Biden announced a $2 trillion plan to that effect, media outlets certainly would have reported on it, yet none have done so.

The claim appears to stem from a May 10 article published on The Babylon Bee, a self-described “world’s best satire site, totally inerrant in all its truth claims.” While The Babylon Bee clearly discloses the satirical nature of its website, social media users have been sharing the claim without any disclaimers, seemingly believing the erroneous claim to be true.

This is not the first time social media users have shared inaccurate information about Biden’s policies. In April, Check Your Fact debunked the claim that Biden’s climate change plan required Americans to reduce their consumption of red meat by 90 percent.

Elias Atienza

Senior Reporter
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