The Democrats’ $1.75 trillion Build Back Better Act actually will cost more than double the sticker price, according to a private non-partisan group.
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The Democrats’ $1.75 trillion Build Back Better Act actually will cost more than double the sticker price, according to a private non-partisan group. The Committee for a Responsible Federal Budget estimates, based on past practice by Congress, the bill ultimately will cost nearly $5 trillion. The group points out the legislation includes a number of “temporary programs” with arbitrary sunsets and expirations. And as President Trump’s one-time director of the Office of Management and Budget points out, once Congress establishes a program with a bureaucracy to manage it, it doesn’t go away. With an administrative system in place, the programs will “grow each and every year,” said Russ Vought in an interview Friday with Steve Bannon on “War Room.” Vought, who now heads the non-profit Center for Renewing America, explained that the costs in Build Back Better are “front-loaded,” with the spending designated for the first couple of years. And then there are “artificial sunsets” — the programs will inevitably be renewed after their expiration dates. Meanwhile, the revenue, including tax hikes, is spread out over 10 years. The Wall Street Journal has called it “the most dishonest spending bill in American history.” ‘Never in American history’ In a floor speech that lasted eight hours, Republican Minority Leader Kevin McCarthy described the legislation as the “single most reckless and irresponsible spending bill in our nation’s history.” He said Democratic lawmakers were “out of touch” with ordinary Americans. “Never in American history has so much been spent at one time,” McCarthy said. “Never in American history will so many taxes be raised and so much borrowing be needed to pay for all this reckless spending.
