So, how will Biden’s $1.7T Build Back Better plan be ‘fully paid for’?: Democrats could DROP the $80billion IRS enforcement investment to track American bank accounts to get bill through the Senate

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  • Moderate Dems said they’ll vote for the bill when they know how it’s paid for
  • The White House claims the $80B would’ve generated $400B over 10 years 
  • Because Congressional Budget Office guidelines say it can’t include money going out as money coming in during calculations, it may not be included
  • But that would also leave a $400 billion spending hole in Biden’s plan
  • An unofficial CBO estimate put the real revenue increase at roughly $200 billion
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Democrats are reportedly close to dropping a provision from President Joe Biden’s $1.75 trillion Build Back Better bill that would allocate $80 billion toward strengthening Internal Revenue Service (IRS) tax enforcement.

White House and Treasury Department calculations estimate the investment would bring in $400 billion over 10 years as part of Biden’s promise that his sweeping social and environmental agenda would be ‘fully paid for.’

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Moderate Democrats in the House and Senate have said they won’t vote for the progressive-backed bill until they know where the money for it will come from.

That could be a problem for Biden, since Congressional Budget Office guidelines wouldn’t allow for a concrete estimate on how much money the IRS funding would bring in.

www.dailymail.co.uk/news/article-10187039/Democrats-DROP-80B-IRS-enforcement-investment-Bidens-agenda-bill-Senate.html

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