Yesterday, the nonpartisan Congressional Budget Office (CBO) released its analysis of a newly announced Biden-Harris program intended to paper over the flaws of the so-called “Inflation Reduction Act” (IRA). Based on CBO estimates, this election-year stunt to artificially lower the cost of seniors’ Part D premiums will cost taxpayers at least $7 billion in 2025, including $2 billion in additional interest on our already ballooning debt. If implemented as planned, this program could cost taxpayers more than $21 billion over the three-year demonstration.
Source: House Budget Committee