Letter: CBO Failed To Disclose How It Underestimated Cost of Biden’s Tax-and-Spend Bill
Dec. 16, 2021 - Blog - Press Releases - Worker and Family Support
The Congressional Budget Office (CBO) underestimated the cost of at least one key provision in the Democrats’ Build Back Better Act by as much as $10 billion, according to a letter sent by Republican Leader on the House Committee on Ways and Means Rep. Kevin Brady (R-TX) and Republican Leader on the Worker and Family Support Subcommittee, Rep. Jackie Walorski (R-IN) to Director Philip Swagel.
The letter specifically points to the underestimated cost of a provision to expand Supplemental Security Income (SSI) to the Territories and notes the CBO failed to disclose the information.
This is just one of many ways the Democrat’s $5 trillion tax-and-spending bill is not fully accounted for, despite Democrats repeated false assertions that it is “paid for."
In the letter, the Members wrote:
“CBO estimated the cost of Subtitle J - to expand access to Supplemental Security Income (SSI) to residents of the Territories - would increase direct spending by $268 million over ten years. Yet, failed to disclose a highly questionable assumption that results in as much as $10 billion in additional costs.
“We believe this is a significant lapse in the agency’s obligation to provide transparent analyses of budgetary provisions, resulting in a substantial under-estimate of the real cost of this provision included in the Build Back Better legislation."
READ: CBO: Permanent Dem Tax & Spend Bill Costs About $5 TRILLION, Adds $3 Trillion to Deficit
