For months President Biden and Speaker Pelosi have been telling the American people that their Far-Left Socialist Spending Scam would be fully paid for. It turns out that was a LIE.
Biden’s White House is now telling House Democrats that their Far-Left Socialist Spending Scam will not be fully paid for, according to the nonpartisan Congressional Budget Office (CBO).
According to the New York Times:
“The White House has begun bracing lawmakers for a disappointing estimate from the budget office, which is likely to find that the cost of the overall package will not be fully paid for with new tax revenue over the coming decade.”
The CBO said on Monday, “that the I.R.S. proposal would yield far less than what the White House was counting on to help pay for its bill — about $120 billion over a decade versus the $400 billion that the administration is counting on.”
This is just the latest lie that Biden and Pelosi have been caught telling the American people about their Far-Left Socialist Spending Scam.
Earlier this month, both the University of Pennsylvania’s Wharton School of Business and the Committee for a Responsible Budget released models showing that the bill will cost more than DOUBLE the estimated cost, once Democrats’ budget gimmicks are taken into account.
Then last week, the left-leaning Tax Policy Center found that Biden and Pelosi’s Far-Left Socialist spending spree would raise taxes on middle-class Americans by 30%.
“Taking into account all major tax provisions, roughly 20 percent to 30 percent of middle-income households would pay more in taxes in 2022,” the left-leaning Tax Policy Center’s analysis found.
IT’S SIMPLE: Democrats have been lying about every aspect of this legislation from the start.