The Committee for a Responsible Federal Budget (CRFB), a nonpartisan organization with an emphasis on federal finances, has said that Democrats’ budget reconciliation, which Democrats have marketed as a $1.75 trillion bill, will actually cost around $2.4 trillion.
The $1.75 trillion bill was unveiled by the White House after months of negotiations with a handful of moderates who refused to vote for the original, more expansive $3.5 trillion budget proposal.
But according to CRFB, this new $1.75 trillion figure is far too conservative.
CRFB, which describes itself as “a nonpartisan, non-profit organization committed to educating the public on issues with significant fiscal policy impact,” has an impressive history. The group was founded by Reps. Robert Giaimo (D-Conn.) and Henry Bellmon (R-Okla.) after both left Congress in 1981.
The group has researched legislation for decades, and has not shied away from criticizing proposals from both parties.
In 2017, when Republicans used the reconciliation process to pass the Tax Cuts and Jobs Act, CRFB warned that the legislation would increase the federal deficit and the national debt. “Tax cuts don’t pay for themselves,” they wrote in a blog post.
Now, CRFB has turned its attention to Democrats’ Build Back Better budget bill. According to new analysis by the group, the bill will actually initiate $2.4 billion in new spending.
By far the most expensive item in the bill will be universal pre-K and childcare programs, coming in at $390 billion. In addition, Democrats’ proposed family leave program, which has been controversial with some moderates, would cost $195 billion.
read more here: https://www.theepochtimes.com/nonpartisan-org-says-dem-budget-costs-2-4-trillion-not-1-75-trillion_4095307.html?slsuccess=1&slsuccess=1
Replies