Biden’s “Zero Dollar” Spending Bill Fantasy Comes Crashing Down

Surprise, surprise!

It turns out Joe Biden and his cronies have been lying this entire time about the price tag on the Build Back Better plan.

The daunting reality of its actual cost slapped the Biden administration directly in the face on Tuesday as the Congressional Budget Office (CBO) revealed Democrats have severely underestimated tax revenue from billionaires.

Biden and numerous top Democrats have repeatedly insisted that their $1.85 trillion social spending package will add nothing to the national debt. They argued the package included enough increased taxation to offset the spending programs.

CBO chief Phillip Swagel brought that claim down, saying that the tax loophole crackdown in the bill would only garner $120 billion, a far cry from the White House’s projected $400 billion.

Ahead of the complete CBO reported this Friday, the White House is issuing a preemptive strike, telling lawmakers on Capitol Hill to ignore the budget analysis.

“In this one case, I think we’ve made a very strong empirical case for CBO not having an accurate score,” an official in Biden’s Treasury Department said to the New York Times.

A part of Biden’s bill includes a radical ‘beefing up’ of the Internal Revenue Service in an effort to fully handle increased taxation on billionaires. However, billionaires aren’t the only ones.

A policy within the Build Back Better framework would empower the IRS to monitor American’s bank accounts pertaining to deposits exceeding $600.

Republican members of Congress have mocked the White House’s claim for months as “completely false,” and saying the president is “confused.”

Confusion is the driving force behind the Biden administration.

Author: Elizabeth Tierney