The Congressional Budget Office (CBO) announced on Friday that if Biden’s precious Build Back Better Act (BBB) makes permanent some temporary programs it will add $3 trillion to the deficit if passed without sunsets.
The BBB has sunsets, but does anyone truly believe in a temporary government program? (Just so you know both parties do this. They put in these “sunsets” and never commit to it because government)
The CBO said the child tax credit would make the largest difference in the deficit:
The Congressional Budget Office and the staff of the Joint Committee on Taxation project that a version of the bill modified as you have specified would increase the deficit by $3.0 trillion over the 2022–2031 period (see Table 2). That amount includes three components: effects usually counted in CBO’s cost estimates (which are labeled conventional effects in the table), the effects of increased resources for tax enforcement, and effects on interest on the public debt. Under long-standing guidelines agreed to by the legislative and executive branches, estimates to be used for budget enforcement purposes include the first component but not the second and third.In comparison, including the same three components, the version of H.R. 5376 that was passed by the House of Representatives would increase the deficit by $0.2 trillion over the 2022–2031 period, CBO projects. The largest difference between the two estimates stems from an increase in the child tax credit that ends after 2022 in the House-passed version of the bill.
Sen. Lindsey Graham (R-SC) and Rep. Jason Smith (R-MA), both ranking members for their respective budget committees, asked the CBO for the true cost of the BBB.
The Democrats need moderate Sen. Joe Manchin (D-WV). He is more intelligent than his colleagues because he knows programs do not go away: “One goes for three years, one goes for one year, and maybe one other one might go for the full 10 years. Do they not intend for those programs to last the full time, 10 years? Well, if you intend for that to happen, what’s the real cost?”
Pelosi and Schumer insist that if the programs become permanent they will be paid for. Of course, neither offer specifics on how they will pay for these stupid programs. Biden still thinks this monstrosity crap is free.
Gag me with a spoon. Pelosi, if you want to cut middle-class taxes then repeal the 16th Amendment. You want to help us out then cut the government by a ton and leave us alone.
Just go away.
By the way, what is after trillion? I have a feeling we’ll be going there before Biden leaves office.
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