The claim
"$8 trillion in deficit spending over the past four years - much of it having gone to the wealthiest people in the country"
Original publisher’s rating
We can't say exactly how much deficit spending went to the richest Americans. President Biden was referring to sweeping tax cuts passed in 2017 (estimated to cost close to $2tn over a 10-year period). Studies have shown that high earners benefitted the most from these cuts.
Reviewed by BBC Reality Check ↗ ·
Read the original fact check ↗Sources and attribution
Original review: BBC Reality Check. Structured data compiled by Data Commons under CC BY 4.0. Publisher article content is subject to its own terms.
Updated