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. 🙌

Discuss this article in our forums

Latest Worthy News

Trump Hails Manufacturing and Market Surge as America’s ‘Golden Age’
Israel, Lebanon Conclude First Day of Rome Talks as Negotiations Turn to Border and Security Issues
Campus Free Speech Policies Reach Best Level in 20 Years, FIRE Report Finds
Russian Strikes Revive Black Sea Blockade, Threatening Ukraine’s Economy
Israeli Surgeons Rebuild Cancer Patient’s Chest With Personalized 3D-Printed Implant
Iran Sends Special Forces Into Iraqi Kurdistan in Escalating Campaign Against Kurdish Opposition
Egypt Executes Killer Of Coptic Priest
Heatwave Pushes Central Europe Into Energy Crisis As Nuclear Plants Struggle
U.S. Expands Intelligence Presence in Cuba as Pressure Mounts on Communist Regime
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