Biden economic plan

Biden plan will increase AND decrease deficit

The Wharton School of Business (from which Donald Trump graduated), has released its analysis of Joe Biden’s economic plan.

According to the analysts creating the Penn Wharton Budget Model*, Biden’s programs will raise the debt by approximately $2 trillion by 2030. It would then, however, reduce the debt by a healthy 6.1% by 2050.

The Middle Class Won’t Get a Tax Hike

As Biden promised during his presidential debates with Donald Trump, his tax increase on the wealthy would not affect Americans earning less than $400,000 per year.

One key component of Biden’s economic plan includes spending $2 trillion on the Green New Deal, which aims to help replace fossil fuels and related technologies with renewable fuel sources. There is a growing rift between Biden’s centrist wing of the Democratic party and far-left members like Alexandria Ocasio-Cortez. AOC and her allies want more spending on the Green New Deal.

*The Penn Wharton Budget Model is a widely used economic forecasting model used by neutral organizations like the Tax Policy Center.