We’re seeing a number of folks tweeting that the CBO cost estimate shows the Build Back Better Act adds $367 billion to the deficit – it does not. As we have said before, the CBO does NOT score the revenue that comes from the IRS enforcement provision of the bill. CBO’s own tweet spells it out: “…not counting additional revenue that may be generated by additional funding for tax enforcement.”
So what ARE the facts? Using the estimate from the Treasury Department on expected tax enforcement revenue, the CBO cost estimate shows that the Build Back Better Act will be MORE than fully paid for – in fact, it will REDUCE the deficit by $112 billion. You can check out a comparison of the White House estimate and the CBO estimate here.
So what ARE the facts? Using the estimate from the Treasury Department on expected tax enforcement revenue, the CBO cost estimate shows that the Build Back Better Act will be MORE than fully paid for – in fact, it will REDUCE the deficit by $112 billion. You can check out a comparison of the White House estimate and the CBO estimate here.