President Biden and House Democrats’ have already been caught lying to the American people about how much their Far Left Socialist reconciliation package will cost them.
The University of Pennsylvania’s Wharton School of Business just released a model showing that the Democrats’ package will cost more than DOUBLE the bill’s reported cost.
The Penn Wharton model also estimated that the tax provisions Democrats claim would “pay for” their bill is much lower than previously reported.
House Democrats released the text of this legislation which is OVER 2,000 pages, on Wednesday. There is currently no detailed score from the Congressional Budget Office, making it impossible to know how much it will cost.
Why are Biden and House Democrats dead set on ramming through this legislation without full transparency on the true cost to the American people? It’s because the legislation is littered with a wish list of Far-Left Socialist policies that the American people have already rejected.
HERE’S WHAT’S IN THE DEMOCRATS FAR-LEFT SOCIALIST TAX AND SPEND PACKAGE:
- Provides the IRS nearly $80 billion for tax enforcement purposes. It is estimated this will allow the IRS to more than double in size and hire 87,000 new agents.
- Grants mass amnesty to millions of illegal immigrants.
- Does not include the Hyde Amendment, allowing taxpayer dollars to be used to fund on demand abortions.
- Perpetuates labor shortages by eliminating work requirements to receive welfare benefits for able bodied adults – at a time when there are over 10.4 million job openings.
- Expands Obamacare subsidies through 2025, overwhelmingly benefiting wealthier Americans and subsidizing people who already have insurance.
- Unnecessarily expands Medicare benefits at a time when the program is going broke, ultimately harming choices for our seniors.
- Includes Civilian Climate Corps that would employ thousands of young people to work on climate-change mitigation projects.
- Provides fake news organizations with less than 1,500 employees to get a tax cut at a time when their readership has declined due to their liberal bias.
- Over $400 billion in small business tax hikes, which will be shouldered by Main Street job creators.
- This bill impedes and bans domestic energy and mineral production, increasing our dependencies on resources supplied by OPEC, Russia, and China.
- Raises taxes on natural gas, raising the costs of nearly everything.
- $800 billion in corporate tax increases
- Extends SALT deductions by 5 years to give wealthy Americans up to a $72,500 tax break each year.
House Republicans led by Rep. Obernolte have sent a letter to Speaker Pelosi and Leader Hoyer demanding a CBO score before Congress votes on the Democrats’ Far Left Socialist reconciliation package.