Biden Defends His Social Agenda Bill, Saying the Cost Will Be Zero

TRANSCRIPT:

BIDEN: "We talk about price tags.  The — it is zero price tag on the debt.  We’re paying — we’re going to pay for everything we spend.  So they say it’s not — you know, people, understandably — 'Well, you know, it started off at $6 trillion, now it’s $3.5 trillion. Now it’s — is it going to be $2.9? Is it…' It’s going to be zero. Zero. Because in the — in that plan that I put forward — and I said from the outset — I said, 'I’m running to change the dynamic of how the economy grows.' I’m tired of trickle-down. The trillionaires and billionaires are doing very, very well — you all know it; you’ve all reported it — and in the middle of this crisis. But hardworking people and middle-class people are getting hurt. And so, I provide for, for example, a tax cut. If you have a child, you get a refundable tax credit.  It’s reduced hunger in America by 40 percent, literally, for children. You have the — the whole notion of being able to provide for daycare for your children, getting people back to school, et cetera.  It’s all paid for. It’s all paid for. But — and a lot of these are flat tax cuts that exist within my proposal, and they’re being calculated as if the cost of — of the — of the Child Care Tax Credit is a cost to the government; it’s not. It’s reducing taxes — reducing taxes, not increasing taxes."