Psaki: Biden's Build Back Better Plan Will Cost Top Earners White House Press Secretary Jen Psaki (Drew Angerer/Getty Images)
By Solange Reyner | Wednesday, 29 September 2021 06:57 PM
President Joe Biden’s $3.5 trillion spending plan will cost top earners more, White House press secretary Jen Psaki acknowledged Tuesday after Biden was ripped for claiming his Build Back Better plan costs “zero dollars.”
"There's a clear difference to what we're talking about as it relates to taxpayer funds or funding that would lead to our debt, right, which I know a lot of Republicans are supposedly concerned about" Psaki said during a press briefing when asked by a reporter whether the Biden administration would “acknowledge the broader truth that it does cost somebody? Right?”
"Fifty of the top companies last year in 2020 paid not a dollar in taxes,” Psaki added.
“A lot of high-income individuals pay lower tax rates than nurses and teachers. No one thinks that's fair. Yes, we're asking them to pay more. Yes, it will cost them more."
The president on Saturday tweeted: "My Build Back Better Agenda costs zero dollars. Instead of wasting money on tax breaks, loopholes, and tax evasion for big corporations and the wealthy, we can make a once-in-a-generation investment in working America. And it adds zero dollars to the national debt."
Psaki on Monday repeated the administration’s talking point, saying, “this reconciliation package would cost zero dollars.
"There needs to be agreement on the different components, there’s broad agreement on the goals, and then there needs to be agreement on what the revenue pay-fors are."
Republicans have ripped the plan as a massive bill that “ultimately provides benefits to wealthy liberal elites at the expense of working-class families."
Several moderate Democrats have also raised concerns about the package.
"I don’t think we can afford everything," said Rep. Stephanie Murphy, D-Fla. "Unless something changes, I have no choice but to vote no on every subtitle (in the bill) and on final passage."