Joe Biden Plan Will Cost Additional $700 Billion

Joe Biden Plan Will Cost Additional $700 Billion

(AmericanProsperity.com) – Whenever a new government program is introduced, Democrats tend to hide the price tag beneath all the alleged “benefits” their proposal would bring. But, sooner or later, economists and scholars dig into the bill and reveal the true cost of the liberal agenda. This week, one group did just that with President Joe Biden’s American Families Plan (AFP).

On Wednesday, May 5, the University of Pennsylvania’s Penn Wharton Budget Model released an analysis of the AFP. The Biden administration claims the plan would cost $1.8 trillion, but Penn Wharton’s summary showed that the plan would actually cost about $2.5 trillion from 2022 to 2031 while only raising $1.3 trillion in tax revenue during that time.

Bloomberg News shares more:

The analysis also details how Biden’s proposal will increase our national debt and hurt our GDP over the coming decades. Thankfully, Senate Minority Leader Mitch McConnell (R-KY) believes that “zero” Republicans will support the bill. This shows Americans just how critical it is to vote for and support congressional lawmakers who understand economics and how our nation works so they can push back against spending bills like this.

~Here’s to Your Prosperity!

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