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Tags: Biden Administration | National Debt | biden | psaki | bill | spending | taxes

Psaki: Biden's Build Back Better Plan Will Cost Top Earners

Psaki: Biden's Build Back Better Plan Will Cost Top Earners
White House press secretary Jen Psaki. (Drew Angerer/Getty Images)

By    |   Wednesday, 29 September 2021 06:57 PM

President Joe Biden's $3.5 trillion spending plan will cost top earners more, White House press secretary Jen Psaki acknowledged Tuesday after Biden was criticized for claiming his Build Back Better plan costs “zero dollars.”

"There's a clear difference to what we're talking about as it relates to taxpayer funds or funding that would lead to our debt, right, which I know a lot of Republicans are supposedly concerned about," Psaki said in a press briefing when asked by a reporter whether the administration would “acknowledge the broader truth that it does cost somebody? Right?”

"Fifty of the top companies last year, in 2020, paid not a dollar in taxes,” Psaki added.

“A lot of high-income individuals pay lower tax rates than nurses and teachers. No one thinks that's fair. Yes, we're asking them to pay more. Yes, it will cost them more," she said.

The president on Saturday tweeted: "My Build Back Better Agenda costs zero dollars. Instead of wasting money on tax breaks, loopholes, and tax evasion for big corporations and the wealthy, we can make a once-in-a-generation investment in working America. And it adds zero dollars to the national debt."

Psaki on Monday repeated that point, saying that “this reconciliation package would cost zero dollars.

"There needs to be agreement on the different components, there's broad agreement on the goals, and then there needs to be agreement on what the revenue pay-fors are."

Republicans have slammed the plan as a massive bill that “ultimately provides benefits to wealthy liberal elites at the expense of working-class families," she said.

Several moderate Democrats have also raised concerns about the package.

"I don't think we can afford everything," said Rep. Stephanie Murphy, D-Fla. "Unless something changes, I have no choice but to vote no on every subtitle [in the bill] and on final passage."

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Politics
President Joe Biden's $3.5 trillion spending plan will cost top earners more, White House press secretary Jen Psaki acknowledged Tuesday after Biden was criticized for claiming his Build Back Better plan costs "zero dollars."
biden, psaki, bill, spending, taxes
303
2021-57-29
Wednesday, 29 September 2021 06:57 PM
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