News

NARRATIVE GAAP: CBO Says Biden Spending Bill Will NOT ‘cost $0’

As negotiations over President Biden’s massive pork-filled reconciliation bill slowed, the administration pivoted to attack the estimated costs that caused the delay.

Just as the Obama administration actively promotes known lies; Americans can keep their doctors and families will save $2,500 a year on Obamacare, the Biden administration has insisted its huge trillion-dollar spending bill will actually NOT cost us dollars. la.

Biden doubled down that the $3.5T reconciliation bill would add ZERO to the debt.

Now, the administration of President Joe Biden is facing a “bill-killing” fact check.

The head of the Congressional Budget Office (CBO) said the White House overestimated how much revenue the IRS could gain by fixing tax loopholes.

This is why the left-wing Democrats have been trying to block the passage of the $1.5T infrastructure bill, until the reconciliation bill is also agreed, without Waiting for CBO’s review.

However, CBO chief Phillip Swagel dismissed that claim on Monday, saying that circumventing the tax loophole in the bill would only raise $120 billion, a far cry from the expected $400 billion figure. of the White House, according to The New York Times.

The CBO, a nonpartisan organization, will release its official report on Friday. The White House is attacking the CBOS conclusion, urging lawmakers to ignore the report before releasing it.

“In this case, I think we’ve made a very strong case of the CBO not getting the exact score,” said Ben Harris, assistant secretary for economic policy at the Treasury Department. with the NYT. “The question is do they want to go with the CBO knowing the CBO is wrong, or do they want to target the best information they can get?”

Republicans in Congress have mocked the White House statement for months as “totally untrue” and said the president is “confused.”

https://smartzune.com/narrative-destroyed-the-cbo-says-bidens-spending-bills-will-not-cost-zero-dollars/ | NARRATIVE GAAP: CBO Says Biden Spending Bill Will NOT ‘cost $0’

screesnrantss

Inter Reviewed is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@interreviewed.com. The content will be deleted within 24 hours.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

four × five =

Back to top button