President Obama put forth a plethora of proposals during the State of the Union speech last week that, he said, would not raise the national debt. According to the National Taxpayer’s Union, the total cost to taxpayers of those proposals could reach $83.4 billion, the most expensive plan yet by Obama during the State of the Union speech.
“This is a slush fund that has a lineage back to the 2009 stimulus and more recently the President’s Jobs Act from the last Congress; back then CBO scored it at $39.16 billion over five years, which breaks down to $7.832 billion on an annualized basis,” said NTU’s Executive Vice President, Pete Sepp. The taxpayer’s watch dog group estimated the cost to implement 40 items mentioned during Obama’s speech that would cost the American taxpayer.
Speaking of the President’s vague tax proposals, Sepp said that they “contained enough buzzwords to bear a close resemblance to the tax reform blueprint he put out last year, which in turn draws from previous administration plans. The window-dressing changes, but not so much what’s behind it.”
Listen to the Podcast of the NTU analysis.