In Case You Missed It: New Penn Wharton Model Estimates Democrat Spending Bill Price Tag More than Double
WASHINGTON – While the Biden administration and Congressional Democrats continue to haggle over the size of their reckless taxing and spending bill, new estimates show that Democrats are using budget gimmicks to hide the real price tag.
New budget models from the University of Pennsylvania’s Wharton School of Business show that the taxing and spending bill put forth by the White House and Congressional Democrats will cost nearly $4 trillion, more than double the bill’s reported cost. The Penn Wharton model also estimated that the tax provisions Democrats claim would “pay for” their bill only amount to $1.5 trillion – much lower than previously reported. Penn Wharton Budget Model – Reconciliation Framework Shows Cost of Dem Bill Nearly $4 Trillion
President Biden has repeatedly said his plan would cost zero dollars and add nothing to the debt. FACT CHECK: Biden’s claim that his spending plan ‘costs zero dollars’ (Two Pinocchios)
There is currently no score from the Congressional Budget Office (CBO), but there needs to be full transparency on the proposal’s shell games and budget gimmicks in order to understand the true cost of the Democrats’ taxing and spending legislation.
Next Article Previous Article