CBO: Build Back Better Act Increases Deficit by $3 Trillion

[mystery-ak]

CBO: Build Back Better Act Increases Deficit by $3 Trillion

Sean Moran 10 Dec 2021

The Congressional Budget Office (CBO) found the Build Back Better Act would cost $3 trillion, far higher than its alleged $1.75 trillion price tag.

The CBO wrote the Democrats’ marquee legislation would cost $3 trillion over ten years if the legislation would cost far more than reported if many of the bill’s sunsetted provisions did not expire.

Democrats are using these sunsetted provisions to mask the cost of the legislation.

The CBO noted the child tax (CTC) serves as the most costly part of the bill. In the House-passed version of the bill, the CTC expansion would cost $185 billion, as it would expire after 2022.

However, the CBO said it would cost $1.597 trillion if it were to continue past that deadline.

more
https://www.breitbart.com/politics/2021/12/10/cbo-build-back-better-act-increases-deficit-by-3-trillion/

[DefiantMassRINO]

Worrying about deficits is so 1990s.  No one's cared about deficits, including Republicans, for the past 20 years; why start worrying now?  We'll get someone else to pay the check.

[mystery-ak]

Lindsey Graham: Latest CBO Scoring of Build Back Better Reveals a ‘Spending Orgy’

Wendell Husebø 10 Dec 2021

Sen. Lindsey Graham (R-SC) told reporters on Friday that the true cost of President Biden’s $1.9 trillion reconciliation package is far more costly and debt-ridden than previously disclosed by the Congressional Budget Office (CBO).

Upon request from Graham, the CBO issued a report Friday that revealed the reconciliation package would increase the deficit by $3 trillion over a ten-year period and cost $4.9 trillion in scope. The CBO’s original scoring claimed the deficit would only increase $0.2 trillion over ten years.

The difference in the numbers reflects provisions that Graham believes would never sunset as the years pass because Democrats will never allow the programs to lapse. Among the 17 items that increase the deficit and bill’s cost are child tax credits, child care provisions, SALT deduction, and health insurance subsidies.

more
https://www.breitbart.com/politics/2021/12/10/lindsey-graham-latest-cbo-scoring-build-back-better-reveals-spending-orgy/

[mystery-ak]

Graham hopes to sway Manchin against Biden plan with new CBO report

https://thehill.com/homenews/senate/585325-graham-hopes-to-sway-manchin-against-biden-plan-with-new-cbo-report