{"id":1016887,"date":"2021-11-15T20:28:40","date_gmt":"2021-11-16T01:28:40","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1016887"},"modified":"2021-11-15T20:28:43","modified_gmt":"2021-11-16T01:28:43","slug":"surprise-bidens-spending-bills-will-not-cost-zero-dollars","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/surprise-bidens-spending-bills-will-not-cost-zero-dollars\/","title":{"rendered":"Surprise! Biden\u2019s Spending Bills Will Not \u2018Cost Zero Dollars\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsurprise-bidens-spending-bills-will-not-cost-zero-dollars%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1016887&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p>President Joe Biden\u2019s administration is facing a daunting reality check after claiming for months that their spending agenda will \u201ccost zero dollars,\u201d with the head of the Congressional Budget Office (CBO) saying the White House drastically overestimated the revenue the IRS could gain by cracking down on tax loopholes.<\/p>\n<p>Biden and numerous other senior Democrats in the White House and on Capitol Hill <a href=\"https:\/\/dailycaller.com\/2021\/10\/21\/biden-agenda-cost-zero-trillion-dollar-cnn-townhall\/\" target=\"_blank\" rel=\"noopener noreferrer\">have repeatedly<\/a> <a href=\"https:\/\/dailycaller.com\/2021\/11\/04\/white-house-biden-spending-cost-cbo\/\" target=\"_blank\" rel=\"noopener noreferrer\">insisted<\/a> that their $1.85 trillion social spending package will <a href=\"https:\/\/dailycaller.com\/2021\/10\/01\/joe-biden-spending-plan-infrastructure\/\" target=\"_blank\" rel=\"noopener noreferrer\">add nothing to the national debt<\/a>. They argued the package included enough pay-fors to offset the spending programs. CBO chief Phillip Swagel brought that claim down on Monday, however, saying that the tax loophole crackdown in the bill would only garner $120 billion, a far cry from the White House\u2019s projected $400 billion, <a href=\"https:\/\/www.nytimes.com\/2021\/11\/15\/us\/politics\/biden-social-policy-bill-irs.html?smid=tw-share\" target=\"_blank\" rel=\"noopener noreferrer\">according to The New York Times<\/a>. <strong><a href=\"https:\/\/dailycaller.com\/2021\/11\/15\/joe-biden-victory-lap-bipartisan-infrastructure-bill-signing-ceremony-law\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: \u2018Truly Historic\u2019: Biden Takes Victory Lap During Bipartisan Infrastructure Bill Signing Ceremony)<\/a><\/strong><\/p>\n<blockquote class=\"twitter-tweet\" readability=\"7.44\">\n<p dir=\"ltr\" lang=\"en\">Nope: The net cost is still zero because we raise more than enough revenue to pay for every investment without raising taxes on anyone making less than $400k. <a href=\"https:\/\/t.co\/3gKp6H3O5K\">https:\/\/t.co\/3gKp6H3O5K<\/a><\/p>\n<p>\u2014 Ronald Klain (@WHCOS) <a href=\"https:\/\/twitter.com\/WHCOS\/status\/1453713747718164484?ref_src=twsrc%5Etfw\">October 28, 2021<\/a><\/p>\n<\/blockquote>\n<p>The CBO, which is a non-partisan organization, is set to release its official report Friday. The White House is shoring up support and urging lawmakers to disregard the report ahead of its release.<\/p>\n<p class=\"css-axufdj evys1bk0\">\u201cIn this one case, I think we\u2019ve made a very strong empirical case for CBO not having an accurate score,\u201d Ben Harris, assistant secretary for economic policy at the Treasury Department, told NYT. \u201cThe question is would they rather go with CBO knowing CBO is wrong, or would they want to target the best information they could possibly have?\u201d<\/p>\n<p>Republicans have also attacked the portions of the bill devoted to beefing up the IRS.<\/p>\n<p>\u201cThe IRS will double in size. It will be more involved in the day to day lives of every American,\u201d Republican Pennsylvania Rep. Mike Kelly <a href=\"https:\/\/gop-waysandmeans.house.gov\/dems-terrifying-irs-scheme-increases-audit-rates-for-every-american-with-a-job\/\" target=\"_blank\" rel=\"noopener noreferrer\">said in late October<\/a>. \u201cAnd the result will be an invasion of privacy and the heavy hand of the government squeezing out smaller, more local businesses.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" readability=\"9.6889534883721\">\n<p dir=\"ltr\" lang=\"en\">This is completely false. The largest spending spree in government history will cost \u201czero dollars\u201d? That defies logic and basic math. Alongside massive tax increases, it will add trillions to the debt. Peddling false narratives won\u2019t change those facts. <a href=\"https:\/\/t.co\/vrnxF58LX9\">https:\/\/t.co\/vrnxF58LX9<\/a><\/p>\n<p>\u2014 Rep. Steve Womack (@rep_stevewomack) <a href=\"https:\/\/twitter.com\/rep_stevewomack\/status\/1442136063896551434?ref_src=twsrc%5Etfw\">September 26, 2021<\/a><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" readability=\"7.6300578034682\">\n<p dir=\"ltr\" lang=\"en\">Biden thinks his $3.5 trillion reckless spending plan \u201ccosts zero dollars\u201d?<\/p>\n<p>He is very confused. <a href=\"https:\/\/t.co\/aNUyBnq5Up\">https:\/\/t.co\/aNUyBnq5Up<\/a><\/p>\n<p>\u2014 Tom Cotton (@TomCottonAR) <a href=\"https:\/\/twitter.com\/TomCottonAR\/status\/1442128367285727242?ref_src=twsrc%5Etfw\">September 26, 2021<\/a><\/p>\n<\/blockquote>\n<p>Republican members of Congress have mocked the White House\u2019s claim for months as \u201ccompletely false,\u201d and saying the president is \u201cconfused.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden\u2019s administration is facing a daunting reality check after claiming for months that their spending agenda will \u201ccost zero dollars,\u201d with the head of the Congressional Budget Office &#8230;<\/p>\n","protected":false},"author":158,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1016887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1016887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/158"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1016887"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1016887\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1016887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1016887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1016887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}