True cost of Dems’ plans: $7.5 trillion and a lot of gimmicks

Contact Your Elected Officials
New York Post Header

After months of criticizing Sens. Joe Manchin and Kyrsten Sinema for balking at the original $3.5 trillion price tag, congressional Democrats are finally accepting reality and paring President Biden’s social welfare package to between $1.5 trillion and $2 trillion over the decade.

Does this mean they are responsibly removing the bill’s worst provisions and crafting fiscally sustainable legislation? Of course not!

Instead, welcome to the gimmick Olympics, where progressives are using classic accounting tricks to hide the true cost of the bill.

Instead of producing legislation that truly costs $2 trillion over the decade, lawmakers are crafting as much as $4 trillion worth of new initiatives, but simply using fake expiration dates to score only a few years of each proposal. The idea is to create new federal programs, hook the constituencies on new federal benefits, and then assume that future Congresses and presidents will not dare to allow them to expire. Those assumed extensions will then blow up the cost far above today’s $2 trillion sticker price.

For example, the March stimulus law temporarily expanded the child tax credit from $2,000 to $3,000 per child (and $3,600 for children under the age of 6), and expanded eligibility to higher incomes. Democrats have made clear that they want this policy made permanent at a cost of $1.3 trillion over the decade. Yet the initial reconciliation proposal expanded the policy for just four years, and now the White House is calling for just a one-year extension — effectively hiding nearly $1.2 trillion in upcoming costs. Congress already renews a small number of tax cuts each December, and the child credit will simply become another annual extender.

But the gimmick Olympics do not stop at the child credit. The White House has reportedly proposed three- to four-year expiration dates for other initiatives such as paid family leave, Medicaid expansion and new ObamaCare subsidies. A proposed new child care program — which a study by the left-wing People’s Policy Project shows could raise child care prices by $13,000 per year — would reportedly phase in slowly and expire after a few years. On the other side of the gimmick window, a new Medicare dental benefit would be delayed until 2028, and then have its costs jump once outside the 10-year scoring period.

Most cynical of all is the Democrats’ maneuver on the $10,000 cap on the state and local tax (SALT) deduction. The $10,000 cap is set to expire at the end of 2025, but House Democrats want to eliminate it immediately. So to “pay for” that immediate $90 billion-per-year tax cut, Democrats would actually impose a new SALT cap beginning in 2026 — count that future revenue as an offset — and then quickly cancel the tax before it ever goes into effect. In other words, they are creating entirely fake future policies in order to count the fake savings today.

By Brian Riedl

Read Full Article on NYPost.com

New York Post
New York Posthttps://nypost.com/
America’s oldest continuously-published newspaper, the New York Post evolved into a national digital presence, one of the country’s most impactful news brands.

Liberal Democrat Content Creators are Despicable Defamationers

What should Christian conservatives do when confronted with false information to the point of bearing false witness against someone like President Trump?

Ben Shapiro Warning Me Not to Listen to InfoWars Makes Me Want to Listen 10x Harder

This rant from Ben Shapiro reveals more about him and his low opinion of his audience to whom he peddles his slop than it does about its target, Alex Jones.

Epstein’s Aftermath: Planes, Blames, and Autocrats

There are so many real, honest great journalists reporting the news on the internet these days that some really good content gets overlooked.

Why the Trump Administration is Sitting on the Epstein Files

President Trump, AG Bondi, and FBI Dir. Patel have the advantage over us in that they see the big overall picture when it comes to the Epstein List.

Trump’s “Major Statement” On Russia Is A Clumsy Attempt To Thread The Needle

The “major statement” on Russia Trump hyped up turned out to be an attempt to thread the needle between escalating US involvement in Ukrainian and walking away from it.

Border Czar Says Physical Appearance ‘Can’t Be the Sole Reason’ to Detain Someone

Border czar Homan said comments were “taken out of context” and federal immigration enforcement agents can't detain people based on physical appearances alone.

Capacity of US Coal-Fired Power Plants to Fall Over 15 Percent by 2028

Total operating capacity of coal-fired power plants in US is set to drop to 145 GW by end of 2028, a 15% decline from the 172 GW in operation as of May.

Violence Against ICE Escalates Across America

ICE officers face increased confrontation on the street, which crosses the line between free speech and physical violence.

International Buyers Purchased $56 Billion Worth of US Homes in 1 Year

Foreign buyers purchased $56 billion worth of existing homes in the US between April 2024 and March 2025, up by 33.2% from the previous 12 months.

Pharma Imports Could Face Tariffs by End of the Month, Trump Says

US will institute tariffs on pharmaceutical imports “probably at the end of the month,” President Trump told reporters at Joint Base Andrews.

RFK Jr. Fires Top Aides, Appoints New Acting Chief of Staff

Health Secretary Robert F. Kennedy Jr. has fired several top advisers, the Department of Health and Human Services (HHS) confirmed on July 16.

Trump Says He Will Impose Tariffs of More Than 10 Percent on Smaller Nations

President Donald Trump said on Tuesday that he intends to impose tariff rates of more than 10 percent on imports from “smaller nations.”

Trump Announces Trade Deal With Indonesia

The US and Indonesia have reached a trade agreement, President Trump announced on social media. “Great deal, for everybody, just made with Indonesia".
spot_img

Related Articles