October 21, 2021 2:15 pm
Biden says spending bill will have ‘a zero price tag’

Biden says spending bill will have ‘a zero price tag’

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President Biden Friday insists that his $3.5 Trillion social welfare bill has a price tag and will fully pay for it.

In a speech at the White House , Mr. Biden stated that Democrats will “pay for everything we spend .”

” It is zero price tag debt.” Mr. Biden declared. “We will pay for everything .”

The president plans to finance the huge spending by raising taxes on the wealthy and corporations, but congressional Democrats are still working out details of the tax plan.

Still, he is confident the massive spending won’t incur new taxes on anyone making less than $400,000, which was one of his key campaign promises.

stated that anyone not considered superrich should consider his tax cuts.

It’s all paid,” he stated. “Most of these are flat tax cuts, which are included in my proposal. They are being calculated as though the cost of the childcare credit is a government cost. It is not. It is lowering taxes .”

In his comments, Mr. Biden disputed an August report by the Congressional Budget Office which showed that the $1.2 trillion infrastructure package would increase the federal budget deficit by $256 Billion over ten years.

With scattered responses to reporters’ questions Mr. Biden admitted that negotiations were stalled over $3.5 for social safety and $1.2 billion bipartisan infrastructure bill.

“I think it will just take some time,” he stated, adding later, “Hopefully, at end of the day I’ll be in able to deliver what I said I would

His comments were contrary to the optimism expressed this week by the White House that a deal would soon be reached. This week, the president met with legislators to urge them to concentrate on specific provisions and not the whole package.

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