Laffer to Newsmax: Biden's BBB Costs 'Probably $6 Trillion or More'
By John Gizzi
Tuesday, 16 November 2021 06:29 PM
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Arthur Laffer, the economist who has advised four presidents, told Newsmax on Tuesday that President Joe Biden's ''Build Back Better'' plan will cost more than three times the $1.75 trillion the White House asserts it will cost.
''I believe the actual number is far higher because the spending components of BBB grossly underestimate the damage they'll do to the economy,'' said Laffer, best known as the father of the ''trickle-down theory'' and the eponymous ''curve'' demonstrating that cutting tax rates raises revenue.
Laffer made his estimate to us as Congress waits for the Congressional Budget Office to score the administration's legislative package.
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