It’s been reported that as the negotiations of President Biden’s massive pork-filled reconciliation bill slowed to a crawl, the administration pivoted attacking the estimated costs causing the delay.
Just as the Obama administration aggressively pushed known lies; Americans would be able to keep their doctor and families would save $2,500 per year on Obamacare, the Biden administration has been insisting their massive multi-trillion-dollar spending bill would actually cost ZERO dollars.
Biden doubled down that $3.5T reconciliation bill will add ZERO to the debt.
Now President Joe Biden’s administration is facing a “bill-killing” reality check.
The head of the Congressional Budget Office (CBO) is saying the White House drastically overestimated the revenue the IRS could gain by cracking down on tax loopholes.
This is why the far left of the Democratic party tried to prevent the passage of the $1.5T infrastructure bill, until the reconciliation bill was agreed on too, without waiting for the CBO’s assessment.
CBO chief Phillip Swagel brought that claim down on Monday, however, saying that the tax loophole crackdown in the bill would only garner $120 billion, a far cry from the White House’s projected $400 billion, according to The New York Times.
