White House continues to push debunked zero-cost claim on Biden’s agenda


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President Biden is sticking to his declare that his Construct Again Higher agenda will price the common American taxpayer nothing.

“The price of the Construct Again Higher Agenda is $0,” the White Home tweeted Sunday. 

“The President’s plan will not add to our nationwide deficit and nobody making below $400,000 per yr will see their taxes go up a single penny,” the tweet learn. “It is totally paid for by guaranteeing huge companies and the very rich pay their justifiable share.”

TEAM BIDEN CLINGS TO RECONCILIATION BILL ZERO-COST CLAIM SHOT DOWN BY WASHINGTON POST FACT-CHECKERS

Biden and his administration have repeatedly claimed that Construct Again Higher, a $3.5 trillion reconciliation package deal, will price zero {dollars}, regardless of a number of analysts rebutting the declare from either side of the political aisle. The president bases the zero-cost declare on the concept that the package deal will add nothing to the federal deficit as a result of the fee can be offset by tax will increase and different revenue-generating schemes.

Congress’ Joint Committee on Taxation estimated that the reconciliation invoice will solely elevate $2.1 trillion by way of taxes over 10 years, falling far wanting the $3.5 trillion price. And even the $3.5 trillion determine is being contested because the true price: The Wall Avenue Journal editorial board argued it is primarily based on “price range gimmickry together with entitlement phaseouts and phase-ins” and that the actual price “can be at the least $5 trillion, in all probability way more.” 

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The Washington Submit’s fact-checker, Glenn Kessler, similarly called the zero-cost declare “deceptive” and argued that lawmakers “play all kinds of price range video games to realize that legendary zero throughout the 10-year price range framework.” He mentioned the invoice’s influence on the deficit might “be as little as zero or as excessive as $1.75 trillion over 10 years.”

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The White Home tweet Sunday sparked a flurry of replies from skeptics.

Fox Information editor Tyler O’Neill contributed to this report.





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