CBO says Democrat social spending bill to grow deficit by $367 billion, undercutting Biden claim


us capitol worthy christian news(Worthy News) – The Congressional Budget Office estimated on Thursday that President Biden’s Build Back Better Act will increase the nation’s deficit by $367 billion.

The CBO’s cost estimate contradicts President Biden’s claim that the legislation will cost “zero.” House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer also have said the bill would be fully paid for with tax hikes on corporations and wealthy Americans.

According to the CBO’s estimate, “enacting this legislation would result in a net increase in the deficit totaling $367 billion over the 2022-2031 period, not counting any additional revenue that may be generated by additional funding for tax enforcement.” [ Source: Just the News (Read More…) ]

17
people are currently praying.

Worthy News reports from a biblical worldview with a commitment to accuracy, transparency, and editorial independence. Learn more about About Worthy News, our Editorial Standards, AI Use Policy, Ownership of Worthy News, News Tips and Corrections, and Worthy News Staff.

💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.

📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌

Latest Worthy News

Call for a National Temple Movement Grows in Israel After New Red Heifer Birth
Ukraine Drone Strikes Cripple Russian Refineries as Fuel Shortages Put Putin Under Pressure
Trump Announces First-Ever Republican Midterm Convention in Dallas
Jewish Pro-Israel Protester Killed; Attacker Sentenced To Just One Year In Jail
Muslim Mob Attacks Christian Prayer House In West Java, Threatens To Burn It Down
Trump Crypto Ventures Generate More Than $1 Billion, Financial Disclosure Shows
Democratic Party Civil War Deepens as Socialists Unseat Longtime Incumbents From New York to Colorado
Trump Weighs Renewed Iran Strikes but Keeps Nuclear Talks Alive for Now
Board of Peace To Launch ‘Hamas-Free’ Humanitarian Zones in Gaza
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News