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Opinion | It’s Not Really a ‘$3.5 Trillion’ Bill
The $3.5 trillion bill of president Biden to help America get back on its feet after the pandemic and after years of neglect of infrastructure, manufacturing technologies, child care, health and education, is that much only if offsetting tax increases and spending cuts are not included. When this is taken into account the US is spending about $871 billion to rebuild its economy and for a better life for Americans. That is the estimate provided in the report September 13 by the Congressional Joint Committee on Taxation.
Experts say that if president Trump's bill- Tax Cuts and Jobs Act of 2017 was calculated without offsetting cuts and tax increases the same bill would be $5.5 trillion package.
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