“Americans who worked through the pandemic are being paid up to $26,000 by qualifying for the Employee Retention Credit.”A third bill making a major contribution to the national debt is the 2021 American Rescue Plan, signed by President Joe Biden with the exclusive support of Democrats. The Committee for a Responsible Federal Budget estimates that this law will increase the debt by $2.1 trillion.
Second, not all money from these bills was spent in the first year the bills were approved. Typically, legislation is"scored" on its impact on deficits over a 10-year window. Only the money spent through 2022 is reflected in today’s debt tally. This data affirms that the CARES Act and the American Rescue Plan have each added more to the debt than the Trump tax cuts have.
Source: Loan Digest (loandigest.net)
False. Not taking money from citizens is not a 'cost'....spending money is a cost, most of all is spending money NEVER collected.
Garbage. Tax cuts do not cause debt. Only spending does.
She said that Trump’s tax cuts were the biggest contributor to the debt. Your fact check says that his tax cuts alone added 30% to the debt. Whether it not upcoming bills will contribute was not part of her statement. Either she’s right or you need to better explain.
Except the tax cut focused on helping him and the wealthy.
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