Analysis Deems Biden’s Climate and Tax Bill Fiscally Responsible

After more than a year of trying — and failing — to pack much of President Biden’s domestic agenda into a single tax-and-spend bill, Democrats appear to have finally found a winning combination.

They’ve scrapped most of the president’s plans, dialed down the cost and focused on climate change, health care and a lower budget deficit.

As soon as party leaders announced that new bill last week, Republicans began attacking it in familiar terms. They called it a giant tax increase and a foolish expansion of government spending, which they alleged would hurt an economy reeling from rapid inflation.