Speaker of the House Nancy Pelosi doubled down on President Joe Biden’s claim that the $3.5 trillion Build Back Better Act will cost “zero” dollars.
“It’s not about a dollar amount,” Pelosi told reporters Wednesday morning about intra-party negotiations over the social spending package. “The dollar amount, as the president has said, is zero. This bill will be paid for.”
Her comments echo Biden’s Sept. 25 claim that the Build Back Better Act “adds zero dollars to the national debt.”
“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,” he tweeted.
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
The Congressional Budget Office (CBO) has not scored the Build Back Better Act, so Congress has not been provided with an official estimate of its long-term costs. However, the Committee for a Responsible Federal Budget (CRFB) has estimated that the package could ultimately force Congress to borrow up to $2.4 trillion to pay for it, with tax revenue only covering $1.1 trillion. Moreover, the cost of provisions such as universal pre-kindergarten and free community college would explode after the 10-year estimate included in the bill ends, according to the Wall Street Journal. (RELATED: ‘The American Public Aren’t Stupid’: Meghan McCain Slams Biden’s ‘Asinine’ ‘Zero Cost’ Claim On Spending Bill)
Republicans have pushed back on the zero dollar claim, with Arkansas Rep. Steve Womack claiming that it “defies logic and basic math.”
“Alongside massive tax increases, it will add trillions to the debt,” he said.