Major Report Shines New Light on Biden’s Plan

Major Report Shines New Light on Biden's Plan

(LibertySociety.com) – In April, President Joe Biden introduced the American Families Plan (AFP) to pay for community college, support families, and extend tax cuts for workers as well as people with children. A new report about the bill reveals it could cost way more than what the Biden administration claimed.

According to a May 5 report from the Penn Wharton Budget Model, the AFP would cost about $2.5 trillion over the next 10 years, about $700 billion more than the Biden administration predicted. By 2050, the organization believes it will increase the country’s debt by 5% and shrink the gross domestic product (GDP) by 0.4%.

Biden has already signed a $1.9-trillion COVID-19 relief bill. Then, he introduced an infrastructure plan that was more than $2 trillion. This latest plan is like the icing on a very, VERY expensive cake. America is in the midst of recovering from a global pandemic, and we can’t afford to spend trillions of dollars on all of the Biden administration’s desires. It’s time to be a lot more responsible.

Copyright 2021, LibertySociety.com