Democrats are at it again. They are pulling one of their misinformation campaigns in order to give illegal aliens hundreds of billions of dollars through their reconciliation bill.
Ostensibly, the bill costs $1.75 billion and the Democrats insist that it won’t cost a penny.
A used car salesman tried this on me once and he was more believable than these clowns.
The truth is this bill could end up costing almost $5 trillion dollars.
The original bill allows illegal aliens to receive child credit payments even if they pay no taxes. But, once this bill is passed, they will come back and make the payments permanent, also through reconciliation, meaning they would not need a single Republican vote.
That would balloon the cost from $1.75 trillion to almost $5 trillion dollars. And a provision in the original bill includes a tax cut for rich Democrats of $685 billion by rolling back the limit on SALT deductions.
The beneficiaries of this rollback are mostly those living in California, New York, and New Jersey.
The Committee for a Responsible Federal Budget released a report on Monday:
The Build Back Better Act relies on a number of arbitrary sunsets and expirations to lower the official cost of the bill. These include extending the American Rescue Plan’s Child Tax Credit (CTC) increase and Earned Income Tax Credit (EITC) expansion for a year, setting universal pre-K and child care subsidies to expire after six years, making the Affordable Care Act (ACA) expansions available through 2025, delaying the requirement that businesses amortize research and experimentation (R&E) costs until 2026, and setting several other provisions – from targeted tax credits to school lunch programs – to expire prematurely…
We estimate extending expiring parts of the Build Back Better Act would cost over $2.5 trillion, increasing the total cost of a permanent extension of the bill to above $4.9 trillion.
Former Democratic lawmaker and presidential candidate Tulsi Gabbard said:
“And what this bill is going to do is make inflation worse, it’s going to increase the national debt, it’s going to make things harder for small businesses. And ultimately, it’s going to make people more dependent on a government that already is encroaching too much in every, almost every part of our lives.”
