The major question in Congress has been- what exactly will it cost to bring about the massive expansion plan of Joe Biden? Currently, Congress has gone ahead and authorized the spending of around $3.5 trillion over this decade, but the major twist in the tale is that the President has been asking the Democrats to foot the bill for the legislation.
This would be done by increasing corporation taxes, and the wealthy, while negotiating the prescription drugs prices. They could also dial-up other sources of revenue which could include IRS funding. The main idea behind it is that the entire package should be paying for herself.
Joe Biden Pushing The Democrats To Foot The Bill
Although Joe Biden seems to have lofty ideas, most of the Democrats aren’t yet confident about defending and subsequently paying a bill that hasn’t been fully drafted yet. The Democrat side of Congress has been getting pretty frustrated with the focus on spending $3.5 trillion- as they have argued that very little attention has been paid to the work that is being done to balance out the books. On Friday, the President stated that he would really prefer if the price tag was described as zero.
The other side of Congress hasn’t wasted any time in slamming Joe Biden’s plan, as they have set their focus on the $3.5 trillion spending ceiling which was demarcated by the Democrat politicians, vilifying it as reckless, misguided, and maladministration at the highest level. Mitch McConnell, the Senate Republican Leader from Kentucky has stated that the left has been cashing in all their chips, as they want to hold the pandemic up as a Trojan horse for permanent socialism.
One of the big problems that Joe Biden and his Democratic party are facing is the lack of a consensus about which programs need immediate funding and which do not. Nancy Pelosi and Chuck Schumer have acknowledged that the price would definitely come down.