Penn Wharton Budget Model Analyzes the Biden 2020 Campaign Platform: Budget and Economic Effects of $5.35 Trillion in New Spending and $3.375 Trillion in New Taxes
September 14, 2020Including macroeconomic and health effects, by 2050 the Biden platform would decrease the federal debt by 6.1 percent and increase GDP by 0.8 percent relative to current law.