CBO Confirms: Biden’s Biggest Executive Actions Come With $532 Billion Price List – AMAC

WASHINGTON DC – Republican House Budget Committee Leader Jason Smith (MO-08) released the following statement after the Congressional Budget Office (CBO) – in response to a request from Smith – provided the budget analysis of several executive actions taken by President Biden that, combined, will cost taxpayers $532* billion:

“It turns out that even with Democratic one-party control of Congress, President Biden has found a way to secretly spend hundreds of billions of dollars on his own. With the stroke of a pen, President Biden has piled up at least $532 billion on the American taxpayers’ tab without any input from their elected representatives in Congress. Bizarrely, the same President Biden who unilaterally and illegally refused to spend $1.4 billion in funding that was passed by bipartisan majorities in Congress to build a border wall to combat illegal immigration has at the same time spent more 375 times that amount for actions that Congress ever authorized or appropriated. The huge price tag shows just how much President Biden wants to expand Washington’s command and control over education and health care while rolling back immigration enforcement. It’s amazing that this is the same White House that keeps claiming it’s cutting the deficit.

CBO’s analysis provided the following cost projections for these Biden executive actions:

  • $300 billion to expand wellness by expanding Supplemental Nutrition Assistance Program (SNAP) benefits
  • $34 billion to expand Obamacare and enroll more Americans in Washington-controlled health care plans
  • $85 billion to maintain a pandemic student loan payment moratorium for high-income earners
  • $3 billion to cancel student loan debt for 40,000 borrowers**
  • $20 billion to end the Trump administration’s public charge restrictions on immigration that prevented taxpayers from providing welfare benefits to immigrants
  • $11 billion cost to taxpayers of eliminating enhanced work requirements in SNAP for able-bodied adults with no dependents***
  • $3 billion in additional Medicaid spending by prohibiting states from establishing work requirements in their Medicaid programs
  • $7 billion to raise salaries for federal contractors

Today’s analysis by CBO also comes at a time when the Biden administration is reportedly seeking to spend an estimated $230 billion – without authorization or input from Congress – on canceling $10,000 in student loan debt for US households. who earn up to $300,000 a year. Canceling student loan debt primarily benefits wealthier households:

  • 62% of Americans don’t have a college degree
  • Nearly a third of student debt is held by the top 20% earners
  • 56% of student debt is held by households with a graduate degree
  • 59% of households earning $120,000 a year or more have student debt
  • 2% = unemployment rate among college graduates with bachelor’s degrees

Click on here or on the image below to read the Republican House Budget Committee’s one-page cost estimate of Biden’s executive expenses.

*Includes an additional $69 billion in debt interest payments resulting from Biden management actions
**Calculation based on Ministry of Education data
***Official cost estimate, US Department of Agriculture, December 2019

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Reprinted with permission from – House Budget Republicans by – Representative Jason Smith

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Richard L. Militello