WASHINGTON – Today, the U.S. House of Representaties passed President Joe Biden’s Build Back Better Act.
Secretary of the Treasury Janet L. Yellen released a statement todayon the impact of the Build Back Better legislation.
“The Build Back Better Act will improve the lives of workers, grow our economy, cut taxes for the middle class, and lower costs for families on a wide range of household expenses, such as child care and prescription drugs.
The combination of CBO’s scores over the last week, the Joint Committee on Taxation estimates, and Treasury analysis, make it clear that Build Back Better is fully paid for, and in fact will reduce our nation’s debt over time by generating more than $2 trillion through reforms that ask the wealthiest Americans and large corporations to pay their fair share. A particularly salient aspect of the revenue raised by the legislation is a historic investment in the IRS to crack down on high-earners who avoid paying the taxes that they owe, which Treasury estimates would generate at least $400 billion in additional revenue.
With this bill, members of Congress have a unique opportunity to put our economy on a path to increased growth, productivity, labor force participation, and equity, while ensuring we do not burden future generations with unsustainable debt. I urge them to pass it.”
The bill must be passed by the Senate, next, before the President can sign it into law.
KYLE IS A HERO !!!
It’s not if even worth a comment.
O…. ok STUPID MARXIST FOOLS !!
“A particularly salient aspect of the revenue raised by the legislation is a historic investment in the IRS.”
Let me paraphrase that, “Did you vote Democrat? No? Bend over you’re being audited.”
I love how they keep saying that, “Build Back Better is fully paid for, and in fact will reduce our nation’s debt over time”, utter bullshit.
They are throwing the, as of yet, unused COVID relief money at it. Remember, that money is already spoken for, so they’re double spending it. They must be “unfunding” the previously funded COVID relief, then will need to “re-fund” COVID relief when the spending on that comes due. That way the lie they are telling about the Busting Balls Bill being fully funded can sound good to idiots, and look good to them, at least on the surface.
You’re an idiot.
but I’m a smart one!!!
you mean Build America Bankrupt.