Understanding the Democrats’ Goal
- Everyone should understand that Democrats do not intend to let their Progressive programs expire.
- Everyone should also understand that government entitlement programs never end in practice.
In response, Republicans asked the CBO a big What If.
What If the Build Back Better Programs Don’t Expire?
Today we have the Answer From the CBO to Lindsey Graham, Ranking Member Senate Budget Committee and Jason Smith Ranking Member of the House Budget Committee.
The Congressional Budget Office and the staff of the Joint Committee on Taxation project that a version of the bill modified as you have specified would increase the deficit by $3.0 trillion over the 2022–2031 period.
The largest difference between the two estimates stems from an increase in the child tax credit that ends after 2022 in the House-passed version of the bill.
Major Changes
- Child tax credit jumps from $185 billion to $1,597 billion.
- Child care and preschool jumps from $381 billion to $782 billion.
- State and Local tax jumps from a surplus of $15 billion to $245 billion.
- Health insurance subsidies jump from $74 billion to $220 billion.
- Health insurance subsidies for certain low income populations jump from $57 billion to $180 billion.
- Earned income credit jumps from $13 billion to $135 billion.
Note that none of this is building a damn thing!
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