Biden Predicts Dems Are 'Going to Get Something Less' Than $3.5 Trillion for His Spending Bill
President Joe Biden says it is unlikely Democrats are going to get $3.5 trillion for his spending bill this year.
While delivering remarks Friday, Biden explained, “The cost of the Build Back Better bill, in terms of adding to the deficit, is zero. So when I hear people say, ‘It cost $3.5 trillion…’ To be honest with you, we’re probably not going to get $3.5 trillion this year.”
He added, “We’re going to get something less than that. But I’m going to negotiate, I’m going to get it done.”
Watch the president’s remarks below:
"To be honest with you, we're probably not going to get $3.5 trillion this year," President Biden says about his Build Back Better spending bill
"We're going to get something less than that. But I'm going to negotiate, I'm going to get it done" pic.twitter.com/66PNPGb4QD
— CBS News (@CBSNews) October 15, 2021
The president previously claimed his agenda cost zero dollars in a tweet.
“My Build Back Better Agenda costs zero dollars. Instead of wasting money on tax breaks, loopholes, and tax evasion for big corporations and the wealthy, we can make a once-in-a-generation investment in working America,” Biden said.
He continued, “And it adds zero dollars to the national debt.”
My Build Back Better Agenda costs zero dollars.
Instead of wasting money on tax breaks, loopholes, and tax evasion for big corporations and the wealthy, we can make a once-in-a-generation investment in working America.
And it adds zero dollars to the national debt.
— President Biden (@POTUS) September 26, 2021
Biden received criticism for his suggestion from lawmakers.
Sen. Tim Scott (R-S.C.) tweeted, “Let’s make one thing clear since Joe Biden seems so keen on repeating his false statistic: A $3.5 TRILLION tax and spending plan does not, and cannot, cost ‘zero dollars.'”
Let’s make one thing clear since Joe Biden seems so keen on repeating his false statistic: A $3.5 TRILLION tax and spending plan does not, and cannot, cost “zero dollars.”https://t.co/LJGm97Ju8n
— Tim Scott (@votetimscott) October 14, 2021
Rep. Claudia Tenney (R-N.Y.) fired back at Biden, saying, “Simple math for President Biden: $3.5 trillion does NOT equal zero.”
She continued, “I have to admit, I thought this was from a parody account when I first read it. It was disturbing to see it was actually from our President. He thinks he can spend an unprecedented $3.5 trillion and not add a penny to the debt? This is who is in charge? Scary.”
I have to admit, I thought this was from a parody account when I first read it. It was disturbing to see it was actually from our President. He thinks he can spend an unprecedented $3.5 trillion and not add a penny to the debt? This is who is in charge? Scary.
— Congresswoman Tenney (@RepTenney) September 26, 2021
House Speaker Nancy Pelosi (D-Calif.) indicated Democrats could make cuts to the president’s economic plan.
“In order to pass both the Build Back Better Act and the Bipartisan Infrastructure Bill on time, it is essential that difficult decisions must be made very soon,” she said to House Democrats.
Pelosi went on, “Overwhelmingly, the guidance I am receiving from Members is to do fewer things well so that we can still have a transformative impact on families in the workplace and responsibly address the climate crisis: a Build Back Better agenda for jobs and the planet For The Children!”
House committees reportedly approved portions of what can be included in the final bill, including extending the child tax credit expansion, paid family and medical leave, lowering child care costs, lowering higher education costs, and closing the Medicaid coverage gap.
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