CHARLESTON, W.Va. — U.S. Senator Shelley Moore Capito (R-W.Va.), Ranking Member of the Senate Environment and Public Works (EPW) Committee, today released the below statement following the Congressional Budget Office (CBO)’s announcement that a true accounting of Democrats’ reckless tax-and-spending spree shows that its policies would cost $4.9 trillion while adding $3 trillion in new debt.
“Despite the absurd claims by President Biden and Democrats that the bill costs nothing, CBO’s projection today confirms what Republicans have been saying for months: The Build Back Better Act would cost Americans trillions of dollars. No one believes that Democrats intend the policies in their partisan legislation to be temporary. Today’s analysis by CBO cuts through Democrats’ budget gimmicks to give the American people a real look at the cost of these policies.
“With record inflation numbers announced just this morning, spending this outrageous amount of taxpayer money — on controversial, partisan agenda items — is dangerously irresponsible. This bill is the perfect storm of bad policies, a bad price tag, and bad timing. With the Build Back Better Act, Americans can expect more heartburn with higher inflation, higher taxes, and a higher national debt.”