They said it would cost $370B and is now estimated to cost 3-4X that amount over 10 years and even more in the future.
Since you seem confused as to what "bait and switch" means, here's a definition: First, the merchant "baits" the customer by advertising a product or service at a low price; then when the customer goes to purchase the item, they discover that it is unavailable, and the merchant pressures them instead to purchase a similar but more expensive product ("switching").
So, they baited us with the promise of a reduction in inflation (at a time when the public was desperate for it), sold it at a modest cost and then the switch is what we actually got, no inflation reduction and much higher costs. Get it?