$470 Billion Unaccounted For: Biden Spending Bill Doesn't Add Up as Study Reveals Alarming Numbers

As the Biden White House and Congress' radical progressives continue their efforts to reach an agreement with Capitol Hill moderates and conservatives on their proposed $1.75 trillion social spending bill, it's becoming more apparent than ever that their pie-in-the-sky agenda is anything but fiscally responsible.

On Thursday, the White House released its final version of President Joe Biden's "Build Back Better" spending plan, which includes billions in funding for universal preschool, child care, public housing and climate initiatives and pins it all on the wealthy to - say it with me now - "Pay their fair share."

According to an analysis from the University of Pennsylvania's Wharton School of Business, the White House has overshot its estimate for how much the plan's tax increases will offset the ambitious spending initiatives by about $468 billion.

"At 9AM this morning, the White House released a set of revenue options for budget reconciliation that the White House estimated to total $1,995 billion over 10 years," a summary of the school's budget model released on Thursday reads.

The White House's preliminary estimated revenue effects of selected provisions in its budget reconciliation package estimate a total of $1,995B over 10 years.

While the Biden administration projected this would bring in $400 billion, PWBM estimated $190 billion.

A 15 percent minimum corporate tax on companies that report earnings of over $1 billion was estimated to bring in only $195 billion, although the White House's figure projected $325 billion.

https://thefederalistpapers.org/us/470-billion-unaccounted-biden-spending-bill-doesnt-add-study-reveals-alarming-numbers?fbclid=IwAR2OfyzUlry5Wy-eGBH3BsWcGkQdEYlspIu1X5m4jIh5e3ClF644gUZUDeY