KOMMONSENTSJANE – WHITE HOUSE DEFENDS ITSELF FROM MANCHIN’S “GIMMICKS” CHARGE.

More dog trickery and lies. How many more days before we send out the dog catcher to put these Democrat Communist in the pen?

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11/06/2021


Washington Examiner


White House defends itself from Manchin’s ‘gimmicks’ charge


Katherine Doyle


|President Joe Biden’s sweeping reconciliation package could cost considerably more than the White House’s $1.85 trillion estimate, according to budget analysts who have pointed to “gimmicks” used to drive down the number.

a large building with White House in the background© Provided by Washington Examiner
Democrats pledged that their “zero cost” Build Back Better plan would be fully paid for. But the actual cost of the social spending proposals could reach $4 trillion, more than double the White House’s estimate, according to the Committee for a Responsible Federal Budget.

“The framework relies heavily on the massive gimmick of arbitrary sunsets to make the numbers work,” CRFB President Maya MacGuineas said in a statement. “Extending these policies could end up costing up to $2 trillion over the decade, or perhaps even more.”

To be fully offset, “any extensions would need to be fully paid for as well,” MacGuineas continued. “Unfortunately, such extensions have often been deficit-financed in the past.”

After weeks of whittling down proposals, the White House unveiled a framework for a roughly $1.85 trillion agreement, with a preliminary estimate of payment mechanisms that claim to raise about $1.995 trillion over a decade.

However, “this is not an official score,” John Ricco, associate director of policy analysis for the Penn Wharton Budget Model, told the Washington Examiner. “The ultimate arbiter of this will be the Joint Committee on Taxation and the Congressional Budget Office.”

Analysts at the Penn Wharton Budget Model have questioned the White House’s Build Back Better reconciliation framework, suggesting it would hike spending by $1.87 trillion over the 10-year budget window while increasing revenues by $1.56 trillion during that time.

On Friday, the White House pushed back on the Budget Model, stating that it assumes only $1.65 trillion in offsets and underestimates the total impact of corporate tax changes by $292 billion.

The White House and Joint Committee on Taxation’s analyses confirm this, principal deputy press secretary Karine Jean-Pierre said. “They also assume that unpaid extensions of the programs are happening, which is not a reasonable assumption at all.

“I’m not sure what they modeled here. But it isn’t what the Build Back Better Act actually is.”

Whether the White House’s argument succeeds in persuading enough Democrats to back the bill isn’t clear. Sen. Joe Manchin, a West Virginia centrist, this week criticized the administration for its accounting “shell games” and “budget gimmicks.” He also said he believed the true cost was closer to $4 trillion.

“This is a recipe for economic crisis,” Manchin added in a statement.

The senator has a longstanding relationship with analysts at Penn Wharton dating back to 2017. During negotiations over former President Donald Trump’s Tax Cuts and Jobs Act, the senator sought to introduce a bipartisan element.

Standing in the State Dining Room at the end of the week, Biden implored Democrats to vote “yes” on both his reconciliation package and the infrastructure bill, despite obstacles.

Progressive lawmakers have refused to vote for the infrastructure bill pending an agreement on a Build Back Better framework. The move has set up a sequencing challenge that has bedeviled Democratic Party leadership.

Centrist lawmakers are meanwhile demanding a cost analysis by the Congressional Budget Office, which could take weeks.

kommonsentsjane

About kommonsentsjane

Enjoys sports and all kinds of music, especially dance music. Playing the keyboard and piano are favorites. Family and friends are very important.
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