An agreement was reached this week to restore tax breaks for businesses and to increase child tax credit benefits for lower-income families. The deal was negotiated by Sen. Ron Wyden (D-OR), chairman of the Senate Finance Committee, and congressman Jason Smith (R-MI), chairman of the House Ways and Means Committee. The legislators say the bill would cost $78 billion.

That figure bears no relationship to reality.

Recommended Stories

On reconciliation, the Senate can make or break the deficit

Where did your tax dollars go?: A federal budget breakdown

Democrats should love Tax Day