Page 9 - 367 Billion News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Talking to them. i'm talking to the american people. this is the single most reckless and irresponsible spending bill in our nation's history. promised the american public this would be paid for and it is not. i didn't believe him when he said it. >> mccarthy's is rivaling that of nancy pelosi system for 8 hours and 6 minutes in 2018, he's 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 $367 billion to the deficit over the next decade. they did note it will bring in $207 billion i...

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 won't be enough to make up the difference. we'll talk about who will end up making up the difference most likely. the white house disputes that. they claim the package will actually lower the deficit by $112 billio...

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 past president biden called the cbo the gold standard, he said the year before that it was bipartisan...

Advisers. austan goolsbee, good evening. >> good to see you again, nan. >> this bill as it stands now would add to the federal deficit. that's 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. who's 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 next let's call it 6 to 15 months. the bill is virtually all paid for. there's a small disagreemen...

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 don't take their paxtaxes, you can get much more of that back in taxes that are due into the government. so what the ...