What’s the price of Biden’s plan? Democrats drive for zero
By JOSH BOAK
Associated Press
WASHINGTON (AP) — What will it cost to enact President Joe Biden’s massive expansion of social programs? Congress has authorized spending up to $3.5 trillion over a decade. But Biden is prodding Democrats to fully cover the cost of the legislation. That means raising taxes on corporations and the wealthy, negotiating the price of prescription drugs and dialing up other sources of federal revenue such as increased IRS funding. The administration is sensitive to criticisms that their agenda would raise the debt. Biden says he’d prefer the price tag be described as “zero” once tax increases are included. Defending a bill not yet fully drafted, Democrats are determined to avoid a deficit financed spending spree.
