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.
stated that anyone not considered superrich should consider his tax cuts.
It’s all paid,” he stated. “A lot of these flat tax cuts are contained in my proposal, and they are being calculated to appear as if the cost for the childcare tax credit was a government cost. It is not. It is lowering taxes .”
. In Biden 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 his $1.2 billion bipartisan infrastructure bill.
“I think it will just take some time,” said. Later, he added, “Hopefully, at end of the day I’ll be in a position to deliver on what his]
His comments were a deception 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.