Press Releases

WASHINGTON – U.S. Congressman Larry Bucshon, M.D. (R-Ind.-08) released the following statement following the Congressional Budget Office’s announcement on Friday that by making permanent policies in the Democrats’ socialist tax and spend legislation – which were written by Democrats as temporary policies to hide the true cost of the legislation – will cost $4.9 trillion and add $3 trillion to the deficit over a 10 year period.  

“For months, the American people have been told that the socialist tax and spending legislation pushed by President Biden and Washington Democrats was fully paid for.  However, according to the Congressional Budget Office, this simply isn’t true. Democrats in Congress have tried to hide the trust cost of this legislation from the American people with Enron-style accounting that assumes permanent tax increases to fund temporary spending.  However, the CBO shows that assuming these temporary spending programs are permanent, it will cost trillions of dollars, increase inflation, and add three trillion dollars to the national debt.

“During a time when our country is rebounding from the adverse impact of the COVID-19 pandemic, now is not the time to introduce crushing new taxes and increase inflation. This bill is not right for Hoosiers and not right for the American people,” said Congressman Bucshon.

In an attempt to downplay the fiscal realities of Biden’s Budget Buster, Treasury Secretary Yellen and the Biden Administration released a memorandum that repeats laughable claims such as the “Build Back Better Act is fully paid for” and “The Build Back Better Act…will not add to near-term inflationary pressures”. The American people need policies to help fight inflation, not propaganda to help perpetuate it.