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Chris Wallace says the Biden admin's claim that its spending plan would cost nothing could 'be the dumbest spin line I've ever heard'

JIM WATSON/AFP via Getty Images

"Fox News Sunday" anchor Chris Wallace is calling out the Biden administration's claim that its multitrillion-dollar spending plan would cost nothing.

During a Thursday interview on the "Brian Kilmeade Show," Wallace, who noted that he has been in Washington, D.C., for more than four decades, said that the claim could "be the dumbest spin line I've ever heard, that a $3 trillion dollar bill costs nothing because you're gonna pay for it."

Prior to Wallace's comment, Kilmeade had played a clip of Wallace interviewing Cedric Richmond, senior adviser to the president, on "Fox News Sunday."

Richmond made the no cost claim, and said, "We're gonna pay for it all by raising taxes on the very wealthy and big corporations ... "

Wallace pushed back against the notion that there will be no cost for the legislation.

"Now you can pay for it either by borrowing it, or you can pay for it by raising taxes on corporations and the wealthy. But it doesn't cost zero," Wallace said.

Richmond contended that it ultimately "will cost zero because we're gonna pay for it."

A tweet on President Joe Biden's Twitter account last month included the eyebrow-raising claim that the president's "Build Back Better Agenda costs zero dollars."

"My Build Back Better Agenda costs zero dollars. Instead of wasting money on tax breaks, loopholes, and tax evasion for big corporations and the wealthy, we can make a once-in-a-generation investment in working America. And it adds zero dollars to the national debt," the tweet said.

House Speaker Nancy Pelosi (D-Calif.) has also made the claim.

"It's not about a dollar amount," she said last month. "The dollar amount, as the president said, is zero. This bill will be paid for."

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