A columnist supporting the agenda also explicitly insisted that ‘it is not expensive’
President Biden And his team has tripled the claim that their Build Back Better agenda has “cost zero dollars,” the Washington Post fact-checkers, budget analysts and those supporting infrastructure bills tied to the agenda, at least Despite strong condemnation from a columnist.
“My Build Back Better agenda costs zero dollars,” Biden’s Twitter account tweeted last week, claiming that the agenda “adds zero dollars to the national debt.” White House Press Secretary Jen Psaki repeated the claim At a news conference next Monday, “this reconciliation package will cost zero dollars.” House Speaker Nancy Pelosi, D-Calif., also insisted the cost is “zero.”
Biden’s senior adviser Cedric Richmond reiterated the claim on Sunday, adding that the $3.5 trillion budget reconciliation bill — which Sense. Joe Manchin, DW.VA, and Kirsten Cinemas, D-Ariz., have stayed—will cost nothing. “I think it’s important for people to understand that the cost of this piece of legislation is zero,” Richmond said. “We’re going to pay for this by raising taxes on the very wealthy and the big corporations.”
Yet many analysts have denied this claim. The Washington Post fact-checker, Glen Kessler, famous That MPs “play all kinds of budget games to achieve that mythical zero within a 10-year budget framework.” He called Biden’s claim “misleading”, giving the president “two Pinocchio” and noting that Pinocchio’s number “could go up more.”
Biden bases his “zero-cost” claim on the idea that his infrastructure plan will add nothing to the federal deficit because the multitrillion-dollar cost will be offset by tax increases and other revenue-generating plans. Yet Kessler noted that the legislative sausage-making process has made that claim — dubious from the start — even less credible.
The agenda now includes two bills: a $1 trillion bipartisan infrastructure bill with Republican support and a $3.5 trillion reconciliation bill, which would pass the Senate if every single Democrat voted for it (stages and cinemas are currently holdouts). . Congressional Budget Office Estimated that the bipartisan bill would add $256 billion to the deficit over 10 years, but the Committee for a Responsible Budget noted that the numbers in the CBO report suggest the bill actually add $398 billion. Most of the funds covering the bipartisan bill come from previous COVID-19 stimulus bills.
Biden now claims that his Build Back Better agenda does not include a bipartisan infrastructure bill, but only a $3.5 trillion reconciliation bill, even though Democrats have attempted to use the former to pass the latter.
While the Congressional Joint Committee on Taxation predicted that the reconciliation bill would raise $2.1 trillion in taxes over 10 years, it likely would not cover the $3.5 trillion cost. NS Wall Street Journal Editorial Board Poo-pooed The $3.5 trillion figure, arguing that “the amount is based on budget gimmicks involving entitlement phase-out and phase-in, and the actual cost would be at least $5 trillion, perhaps much higher.” Kessler claimed that the bill’s impact on the deficit “could be as low as zero or as high as $1.75 trillion in 10 years.”
Biden team declared ‘financially illiterate’ for better ‘cost zero dollars’ claim
A bill has already been created as a result of the legislative process Will increase the deficit and another that is likely to do so, Kessler said. He predicted that “a deficit score of zero would be accomplished with only a few questionable gimmicks that help hide the true cost of Biden’s agenda” and that “for Americans not immersed in budget arcana, the president’s claim is misleading. “
The Post fact-checked the claim last Wednesday, but Team Biden continues to reiterate it.
In August, FactCheck.org Similar claims analyzed From Democrats and Republican senators that the bipartisan infrastructure bill is “paid” without raising taxes. Analysts claimed that senators had used budgetary “gimmicks” to cost the bill, and the CBO report confirmed that the bill would indeed add to the federal deficit.
Joe Concha, opinion contributor at The Hill misinformed journalists For failing to challenge the “laughable claim of the president” at Saki’s Monday news conference, he reiterated it. “Fortunately, numbers are numbers and mathematics is mathematics, and so they cannot be deduced so easily,” he said.
“We didn’t know when you pay for something that makes it free. But the White House clearly thinks it has a winner,” in that talking point, editorial board of The Wall Street Journal. made sarcastic remarks.
Similarly, Granthshala News host Chris Wallace on Sunday pushed back Cedric Richmond’s claim.
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“I’ve stopped you there, it’s not worth it,” he said. “Now, you can pay for it by either borrowing it or you can pay for it by raising taxes on corporations or the wealthy, but the cost is not zero.”
“Your comms person is financially illiterate,” says Arielle Davidson, a senior policy analyst at the Jewish Institute for America’s National Security. wrote in response Biden’s claim