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Economic policies

Can the true cost of Biden's budget plan really be 'nothing'? We take a closer look.

  • President Joe Biden says his $3.5 trillion plan will be paid for by tax hikes on wealthy, corporations.
  • But the current bill that is the basis for negotiations among House Democrats doesn’t meet that goal.
  • The true impact won't be known until the bill is finalized.

WASHINGTON – The price tag of President Joe Biden’s plan for a massive expansion of the nation’s social programs remains a subject of negotiations in Congress.

But no matter the final number, Biden insists the true cost will be zero.

“The fact of the matter is, my Build Back Better Agenda costs $0 — and it won’t raise taxes on anyone making under $400,000 a year,” Biden tweeted on Monday. “We’re going to pay for it by ensuring those at the top and big corporations pay their fair share.”

Republicans accuse Biden of lying.

“He is very confused,” Sen. Tom Cotton, R-Ark., wrote on Twitter.