{"id":1109693,"date":"2021-12-11T17:44:08","date_gmt":"2021-12-11T22:44:08","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1109693"},"modified":"2021-12-11T17:44:12","modified_gmt":"2021-12-11T22:44:12","slug":"biden-to-jimmy-fallon-build-back-better-is-paid-for-wont-increase-deficit-one-penny","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-to-jimmy-fallon-build-back-better-is-paid-for-wont-increase-deficit-one-penny\/","title":{"rendered":"Biden To Jimmy Fallon: \u2018Build Back Better\u2019 Is \u2018Paid For,\u2019 Won\u2019t Increase \u2018Deficit One Penny\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">30<\/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%2Fbiden-to-jimmy-fallon-build-back-better-is-paid-for-wont-increase-deficit-one-penny%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=1109693&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--><p>President Joe Biden told Jimmy Fallon on \u201cThe Tonight Show\u201d Friday that his administration\u2019s \u201cBuild Back Better\u201d spending plan would lower costs for most Americans, and would not increase taxes or the federal budget deficit, despite a number of economic analyses that say otherwise.<\/p>\n<p>Fallon opened the <a href=\"https:\/\/www.youtube.com\/watch?v=5msrmQNtg4Y\">interview<\/a> by congratulating Biden on the passage of his infrastructure bill. Biden remarked that the United States used to have \u201cthe best infrastructure in the world, and now we rank 13th in the world.\u201d<\/p>\n<p>\u201cIt has a lot to do with quality of life, it has a lot to do with whether or not we\u2019re gonna be competitive,\u201d Biden added.<\/p>\n<p>He then touted the provisions of the bill, saying that it would replace all the lead water pipes throughout the country, expand internet access, create millions of jobs, and \u201cimprove quality of life for an awful lot of people around the country,\u201d Biden said to raucous applause.<\/p>\n<p>Fallon then asked Biden about the \u201cBuild Back Better\u201d social spending plan. Biden responded, giving the standard pitch he has commonly used to tout the nearly $2 trillion spending package.<\/p>\n<p>\u201cWhat\u2019s in it is the ability for working-class and middle-class people to have their cost of living cut significantly. For example, there is money in there to make sure that there\u2019s the ability to care for \u2014 child care. Right now, if you\u2019re in New York, and you\u2019re a man or a woman having child care for your children, you\u2019re paying $21,000 to $25,000 a year to be able to do that. Well, most people can\u2019t do that, so people leave the workforce. This will mean you don\u2019t have to spend more than 7% of your income, saving tens of thousands of dollars over time.\u201d<\/p>\n<p>\u201cWe also provided in that bill \u2026 we\u2019re gonna make sure that you\u2019re able to send your 3 and 4 and 5-year-olds to school, which will increase exponentially their chances of succeeding,\u201d Biden continued.<\/p>\n<p>\u201cThere\u2019s a whole range of things that are in there that are going to really reduce, essentially, the cost of living for people in a reasonable, rational way.\u201d<\/p>\n<p>\u201cAnd by the way, every single bit of that bill is paid for,\u201d Biden finished. \u201cNo one making less than $400,000 bucks a year will pay an additional cent in taxes, as well as, it will not increase the deficit one penny.\u201d<\/p>\n<p>Biden\u2019s comments run afoul of several expert analyses of the \u201cBuild Back Better\u201d initiative. The Daily Wire reported last month that the <a href=\"https:\/\/www.dailywire.com\/news\/congressional-budget-office-build-back-better-act-will-increase-deficit-by-367-billion\">Congressional Budget Office<\/a> found that the bill would add $367 billion to the federal deficit over 10 years. Another report by the <a href=\"https:\/\/www.dailywire.com\/news\/bidens-build-back-better-would-raise-taxes-on-up-to-30-of-middle-class-households-report\">Tax Policy Center<\/a> found that the bill would increase taxes on up to 30% of middle-class households, in addition to a <a href=\"https:\/\/www.dailywire.com\/news\/federal-analysis-shows-democrat-tax-bill-will-break-bidens-promise-to-not-raise-middle-class-taxes\">proposed tax hike<\/a> from Democrats in Congress.<\/p>\n<p>Furthermore, critics of Build Back Better have been quick to point out that the bill uses myriad <a href=\"https:\/\/www.dailywire.com\/news\/build-back-better-critics-say-accounting-gimmicks-additional-irs-enforcement-hiding-real-cost-to-americans\">accounting gimmicks<\/a> to hide the actual cost it will impose on ordinary Americans. Several independent groups analyzed the bill and found that without those accounting tricks, the actual cost of the bill would likely be between $4-5 trillion over 10 years. The bill also contains $80 billion in additional funding for the IRS, which critics say will disproportionately affect Americans making less than $75,000 per year.<\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden told Jimmy Fallon on \u201cThe Tonight Show\u201d Friday that his administration\u2019s \u201cBuild Back Better\u201d spending plan would lower costs for most Americans, and would not increase taxes or the federal budget deficit, despite a number of economic analyses that say otherwise.Fallon opened the interview by congratulating Biden on the passage of his infrastructure bill. Biden remarked that the United States used to have \u201cthe best infrastructure in the world, and now we rank 13th in the world.\u201d\u201cIt has a lot to do with quality of life, it has a lot to do with whether or not we\u2019re gonna be competitive,\u201d Biden added.He then touted the provisions of the bill, saying that it would replace all the lead water pipes throughout the country, expand internet access, create millions of jobs, and \u201cimprove quality of life for an awful lot of people around the country,\u201d Biden said to raucous applause.Fallon then asked Biden about the \u201cBuild Back Better\u201d social spending plan. Biden responded, giving the standard pitch he has commonly used to tout the nearly $2 trillion spending package.\u201cWhat\u2019s in it is the ability for working-class and middle-class people to have their cost of living cut significantly. For example, there is money in there to make sure that there\u2019s the ability to care for \u2014 child care. Right now, if you\u2019re in New York, and you\u2019re a man or a woman having child care for your children, you\u2019re paying $21,000 to $25,000 a year to be able to do that. Well, most people can\u2019t do that, so people leave the workforce. This will mean you don\u2019t have to spend more than 7% of your income, saving tens of thousands of dollars over time.\u201d\u201cWe also provided in that bill \u2026 we\u2019re gonna make sure that you\u2019re able to send your 3 and 4 and 5-year-olds to school, which will increase exponentially their chances of succeeding,\u201d Biden continued.\u201cThere\u2019s a whole range of things that are in there that are going to really reduce, essentially, the cost of living for people in a reasonable, rational way.\u201d\u201cAnd by the way, every single bit of that bill is paid for,\u201d Biden finished. \u201cNo one making less than $400,000 bucks a year will pay an additional cent in taxes, as well as, it will not increase the deficit one penny.\u201dBiden\u2019s comments run afoul of several expert analyses of the \u201cBuild Back Better\u201d initiative. The Daily Wire reported last month that the Congressional Budget Office found that the bill would add $367 billion to the federal deficit over 10 years. Another report by the Tax Policy Center found that the bill would increase taxes on up to 30% of middle-class households, in addition to a proposed tax hike from Democrats in Congress.Furthermore, critics of Build Back Better have been quick to point out that the bill uses myriad accounting gimmicks to hide the actual cost it will impose on ordinary Americans. Several independent groups analyzed the bill and found that without those accounting tricks, the actual cost of the bill would likely be between $4-5 trillion over 10 years. The bill also contains $80 billion in additional funding for the IRS, which critics say will disproportionately affect Americans making less than $75,000 per year.The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":189,"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-1109693","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\/1109693","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\/189"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1109693"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1109693\/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=1109693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1109693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1109693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}