To win over their most centrist members, the Democrats will need to fit all their wishes into the smaller box. <\/p>\n
Family proposals ~$1.9 trillion<\/p>\n
Climate proposals ~$0.6 trillion<\/p>\n
Child care and<\/p>\n
universal preschool<\/p>\n
Renewable energy tax credits<\/p>\n
Clean<\/p>\n
electricity<\/p>\n
program<\/p>\n
Clean air, water and<\/p>\n
energy efficiency<\/p>\n
Child and dependent<\/p>\n
care tax credit;<\/p>\n
caregiver expenses<\/p>\n
New federal Medicaid program<\/p>\n
Expanded<\/p>\n
premium<\/p>\n
tax credits<\/p>\n
Medicaid<\/p>\n
funding<\/p>\n
for home<\/p>\n
health<\/p>\n
care<\/p>\n
Medicare vision, hearing<\/p>\n
and dental benefits<\/p>\n
Health proposals ~$1.0 trillion<\/p>\n
Other proposals ~$1.1 trillion<\/p>\n
in spending increases<\/p>\n
and tax cuts over 10 years<\/p>\n
Family proposals ~$1.9 trillion<\/p>\n
Climate proposals ~$0.6 trillion<\/p>\n
Child care and<\/p>\n
universal preschool<\/p>\n
Renewable energy<\/p>\n
tax credits<\/p>\n
Clean<\/p>\n
electricity<\/p>\n
program<\/p>\n
Clean air, water and<\/p>\n
energy efficiency<\/p>\n
Child and dependent<\/p>\n
care tax credit;<\/p>\n
caregiver expenses<\/p>\n
New federal Medicaid program<\/p>\n
Expanded<\/p>\n
premium<\/p>\n
tax credits<\/p>\n
Medicaid<\/p>\n
funding<\/p>\n
for home<\/p>\n
health<\/p>\n
care<\/p>\n
Medicare vision, hearing<\/p>\n
and dental benefits<\/p>\n
Health proposals ~$1.0 trillion<\/p>\n
Other proposals ~$1.1 trillion<\/p>\n
in spending increases<\/p>\n
and tax cuts over 10 years<\/p>\n
Family proposals<\/p>\n
~$1.9 trillion<\/p>\n
Climate proposals<\/p>\n
~$0.6 trillion<\/p>\n
Child care and<\/p>\n
universal<\/p>\n
preschool<\/p>\n
Renewable<\/p>\n
energy<\/p>\n
tax credits<\/p>\n
Clean electricity program<\/p>\n
Clean air,<\/p>\n
water and<\/p>\n
energy<\/p>\n
efficiency<\/p>\n
Earned-<\/p>\n
income<\/p>\n
tax credit<\/p>\n
Child care<\/p>\n
tax credit;<\/p>\n
caregivers<\/p>\n
New federal<\/p>\n
Medicaid program<\/p>\n
Medicare vision,<\/p>\n
hearing and dental<\/p>\n
benefits<\/p>\n
Health proposals<\/p>\n
~$1.0 trillion<\/p>\n
Other proposals<\/p>\n
~$1.1 trillion<\/p>\n
in spending increases<\/p>\n
and tax cuts over 10 years<\/p>\n
Source: Cost estimates compiled by Don Schneider, Cornerstone Macro<\/p>\n
As Democrats in Congress debate how to pare back their big social spending bill to a total budget increase of less than $2 trillion over a decade they have even further to go than it may appear.<\/p>\n
The Congressional Budget Office has said it is unclear when it will provide official estimates for the entire proposal written by the House last month. So weve turned to what several budget experts say are the best available estimates of the cost of everything in the bill, compiled by Don Schneider, an economist at Cornerstone Macro. The figures, detailed in the tables below, show that lawmakers starting point is far higher than the $3.5 trillion number they had used to describe the package initially.<\/p>\n
All the new spending and new tax cuts and credits in the bill add up to closer to $4.7 trillion over a decade, the result of an ambitious agenda and some optimistic thinking about the price tag. The target number President Biden discussed with lawmakers this week would be less than half as much, an effort to win the votes of reluctant centrist Democrats. Lawmakers have also proposed a series of tax increases and spending cuts to substantially offset those costs.<\/p>\n
Wherever possible, Mr. Schneider used numbers from the official scorekeepers the C.B.O. or the Joint Committee on Taxation. Some of the other figures were provided by House committee fact sheets or were estimated based on official scores of similar legislation.<\/p>\n
Mr. Schneider was a Republican congressional staffer before taking his current job, and he personally has concerns about the budgetary effects of the legislation. But he said his estimates were not intended to exaggerate the costs of the bill, but to help investors understand the possible effects of the legislation.<\/p>\n
Im serving market participants, he said. This is my best guess of what it is.<\/p>\n
Democratic leaders have signaled that programs to help children and families will be a major focus of the legislation, and the House bill includes a number of such policies. The child tax credit was written as a near-universal policy of monthly payments to parents with children for four additional years. A program would subsidize child care for families that use it. Another would help states establish pre-kindergarten classes in public schools. The legislation would expand the Family and Medical Leave Act to provide paid leave to workers when they need to miss work because of childbirth or family illness.<\/p>\n
OFFICIAL ESTIMATES IN GREEN<\/p>\n
Provision <\/p>\n
<\/p>\n
See original here: <\/p>\n
The Democrats Have a Lot of Cutting to Do - The New York Times<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" To win over their most centrist members, the Democrats will need to fit all their wishes into the smaller box. Family proposals ~$1.9 trillion Climate proposals ~$0.6 trillion Child care and universal preschool Renewable energy tax credits Clean electricity program Clean air, water and energy efficiency Child and dependent care tax credit; caregiver expenses New federal Medicaid program Expanded premium tax credits Medicaid funding for home health care Medicare vision, hearing and dental benefits Health proposals ~$1.0 trillion Other proposals ~$1.1 trillion in spending increases and tax cuts over 10 years Family proposals ~$1.9 trillion Climate proposals ~$0.6 trillion Child care and universal preschool Renewable energy tax credits Clean electricity program Clean air, water and energy efficiency Child and dependent care tax credit; caregiver expenses New federal Medicaid program Expanded premium tax credits Medicaid funding for home health care Medicare vision, hearing and dental benefits Health proposals ~$1.0 trillion Other proposals ~$1.1 trillion in spending increases and tax cuts over 10 years Family proposals ~$1.9 trillion Climate proposals ~$0.6 trillion Child care and universal preschool Renewable energy tax credits Clean electricity program Clean air, water and energy efficiency Earned- income tax credit Child care tax credit; caregivers New federal Medicaid program Medicare vision, hearing and dental benefits Health proposals ~$1.0 trillion Other proposals ~$1.1 trillion in spending increases and tax cuts over 10 years Source: Cost estimates compiled by Don Schneider, Cornerstone Macro As Democrats in Congress debate how to pare back their big social spending bill to a total budget increase of less than $2 trillion over a decade they have even further to go than it may appear. The Congressional Budget Office has said it is unclear when it will provide official estimates for the entire proposal written by the House last month. Continue reading