They project $5 billion total price tag.
Both the House and Senate are in session this week and looking to finalize the Build Back Better proposal before the Christmas recess. Late Friday, the Congressional Budget Office (CBO) produced a new data set on the legislation. In response to a request from Senators Lindsey Graham of South Carolina and John Cornyn of Texas, the CBO added up the cost of the bill that recently passed the House—if all of the programs in it were made permanent.
If extended across the 10-year window, and with all costs revealed and none hidden, Build ack Better would cost nearly $3 trillion more than advertised, for a total price tag of nearly $5 trillion. That number is roughly three times the figure that has generally been broadcast to the public.
In response to the report, Senator Graham said some in the Senate were using misleading tactics in an attempt to mute the true budget burden of the plan. “They put a sunset on the program… to lower the cost. It’s a budget gimmick… it’s going to be a death blow to our economy,” he said.
During a press briefing, White House Press Secretary Jen Psaki dismissed the new score, stating, ” It’s not about the existing bill anybody is debating or voting on.” Earlier, President Biden said, “My Build Back Better Act is going to reduce the deficit by more than $100 billion over ten years.”
As the Lord Leads, Pray with Us…
- For accurate estimates and wisdom for federal officials assessing the Build Back Better Act.
- For members of Congress to have wisdom as they debate and vote on the act.
- For the House and Senate budgetary committees to be discerning regarding the impact upon America’s inflationary pressures.
Sources: The Hill, CNN, National Review
