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.
