The Congressional Budget Office kills the fantasy of Biden's spending bill

The Congressional Budget Office kills the fantasy of Biden's spending bill


The Biden administration has contended that its “Build Back Better” agenda would cost nothing. The Congressional Budget Office now says that’s at least a few hundred billion dollars off.

The CBO’s director estimates that the proposal to amp up the Internal Revenue Service’s crackdown on tax evaders would bring in about $120 billion, well short of the $400 billion the administration was counting on. According to the New York Times, “The White House has begun bracing lawmakers for a disappointing estimate from the budget office, which is likely to find that the cost of the overall package will not be fully paid for with new tax revenue over the coming decade.” (The CBO report is expected to be released Friday.)

It was

Trending: BREAKING: Fully-Vaccinated LeBron James Tests Positive For COVID-19

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend