Page 5 - 367 Billion News Today

Talking to them. im talking to the american people. this is the single most reckless and irresponsible spending bill in our nations history. promised the american public this would be paid for and it is not. i didnt believe him when he said it. >> mccarthys is rivaling that of nancy pelosi system for 8 hours and 6 minutes in 2018, hes just shy of that record. at the heart of republicans concerns, the cost, the nonpartisan congressional budget office estimates the build back better bill will add ...

One democrat golden of a very purple district in maine voted no on this one. congressional budget office projects the build back better act will add $367 billion to the deficit over 10 years. although there is a lot of discussion about whether or not that number is even high enough. if the democrats get the i.r.s. to crack down on tax enforcement, the cbo predicts additional revenue wont be enough to make up the difference. well talk about who will end up making up the difference most likely. th...

Economy but when you look at national defense, we look at the border issues, all of these things together are showing the american people that this administration just does not have what it takes to lead to. they are looking for solutions, looking for leadership and they are not getting it in the polls reflect that. >> shannon: cbo coming back and saying $367 billion will be added to the deficit over the next ten years under this plan, the white house is taking issue with those numbers. in the p...

Advisers. austan goolsbee, good evening. >> good to see you again, nan. >> this bill as it stands now would add to the federal deficit. thats according to cbo. this is happening amid the worst inflation this country has seen in 30 years. biden says this package will help fight inflation. senator manchin is worried it could make it worse. whos right here? >> i think in a way neither are right. i think the build back better bill has virtually nothing to do with inflation, which is a matter of the ...

Cost of the build back better act. it says it will add $367 billion over ten years, but we should note that estimate excludes any additional revenue generated by greater enforcement of tax collections. >> chief business correspondent christine romans joining us now. walk us through the cbo calculations, and how we should be looking at that. >> that tax enforcement part of it is very important. for years, the irs budget has been cut, cut, cut. there are tax scofflaws, people who dont take their p...

For or borrowed from you, the american hard-working taxpayer. >> it is about the math. house speaker nancy pelosi can only lose 3 votes on her side and still pass the bill but her calling card is praising big bills by just a vote or two. pelosi would not have foot this bill on the floor a she has the votes. >> this will shock all of you but biden absentas a barometer doesnt come close to paying for itself even on paper. the cbo just released cost estimate for the bill which projects it will incr...

$367 billion will be added to the deficit, janet yellen chiming in that it is fully paid for. help us understand this disconnect. >> you have a case where america, the white house, is being lead, speaker pelosi and chuck schumer in washington dc for too long, they are the only ones in america the believe spending $5 trillion is going to cost 0. the only reason, they are digging deeply into americans pockets and the thing i keep in mind is whoever controls more of your money controls your actions...

Peter doocy. lets go to the guy you see run the congressional budget office. doug, you know, the cbo, i understand this idea between static accounting and looking at things that can be effected in an active way with programs that can make it hard to predict what youll get out or the revenues that it can generate. right now its a $367 billion gap over ten years between what is being spent and what is coming in. that can change. didnt seem to bother democrats who ended up voting for it, say one, s...

According to the nonpartisan cbos official estimate, the social policy and climate policy bill would increase the federal deficit by $367 billion over the next ten years, but that is a technical finding that the cbo admits is not reality. the cbo noted that the enhanced irs tax enforcement provisions in the bill would bring in at least an estimated $270 billion of new revenue. but for technical reasons, that piece of the estimate was not included in the official estimate. and if you do include t...

>> we are back with the fox news alert, kevin mccarthy wrapped up the longest speech in house history, declaring a vote on president bidens massive spending bill. the >> the longest i have ever given. the longest one minute ever given in this body. there is a reason why. this is a tipping point. the american people have spoken the democrats did not listen. >> mccarthys marathon speech unlikely to change the outcome. the house will reconvene at 8:00. democrats are believed to have the votes to pa...