Accounting tricks are hiding the true cost of President Biden's social spending plan which could cost trillions more than Democrats claim, according to the U.S. Chamber of Commerce.
It wrote to Members of Congress on Wednesday warning them to ensure they have a full picture of its costs.
The letter says its price - currently $1.7 trillion - could be a vast underestimate if Democrats lift sunset provisions on its tax and spending plans.
'We have the highest inflation in 31 years, employers are struggling to fill a record number of job openings, and the current draft of the reconciliation bill uses gimmicks to cover up well over $1 trillion in spending,' said U.S. Chamber Executive Vice President and Chief Policy Officer Neil Bradley.
'It would be the height of irresponsibility for Members of Congress to vote on this multi-trillion-dollar tax-and-spend bill with no clear understanding of its true cost or the real-world impact of the policies.'
His warning came amid fresh concerns about spiralling inflation that could derail the rest of Biden's domestic agenda.
President Biden defended his spending plans on Wednesday during a tour of the Port of Baltimore, insisting they would help bring rising inflation under control
The U.S. Chamber of Commerce on Wednesday wrote to Members of Congress warning them to make sure they had all the facts about Biden's Build Back Better plan before voting on it
The Consumer Price Index rose 6.2 percent in October 2021 from one year prior - the highest it has been since 1990
On Wednesday, the Department of Labor said prices had risen 6.2 percent since this time last year - the most rapid increase in more than 30 years.
Biden has defended his spending plans, including a $1.2 trillion infrastructure bill, saying they will unclog supply chains and make the U.S. more competitive.
The U.S. Chamber of Commerce says spending money on roads, bridges and the internet will help businesses operate more efficiently, bringing costs down for consumers.
But it says the bigger social spending plan - funding childcare, universal pre-school, Affordable Care Act extensions among others - is likely to increase inflationary pressures.
Some moderate Democrats have the same concerns.
And some say they cannot support the bill until the
