Biden Administration Repeats Claims that Spending Bill Costs Nothing

Biden Administration Repeats Claims that Spending Bill Costs Nothing

( – President Joe Biden’s original Build Back Better plan envisioned spending trillions of dollars on infrastructure and critical industries over 10 years. On September 25, Biden promoted the proposal, claiming it would add zero net cost to the US Treasury. On Sunday, October 3, Senior Biden adviser Cedric Richmond repeated this statement. However, that’s not entirely true.

Somewhere along the way, the package got split into two components, with the Senate passing a $1-trillion bipartisan infrastructure bill with no included tax increases in August. Experts estimate that plan would add anywhere from $256 billion to $398 billion to the federal budget deficit.

Meanwhile, Democrats are battling it out over the remaining portion of the bill using reconciliation. Leading Democrats like Senate Minority Whip Dick Durbin (D-IL) still support the $3.5-trillion reconciliation package. Others like Senators Joe Manchin (D-WV) and Kyrsten Sinema (D-AZ) are pushing for a total price tag of less than half that amount.

Critics have pointed out that even if the plan is paid for with tax increases, it still comes with a cost. Meanwhile, the Washington Post reported that whatever compromise Democrats come up with, the second package will likely increase the budget deficit — unless the Biden administration makes use of “dubious gimmicks” to “disguise the true cost” of the plan. Even if the reconciliation plan doesn’t significantly decrease the debt, the report argues that the bipartisan infrastructure bill will still lead to a greater deficit.

For that reason, The Washington Post gave Biden’s claim his Build Back Better plan “costs zero dollars” Two Pinocchios, a figure the liberal news organization said, “could grow higher.”

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