CBO delivers surprisingly good news to Democrats on Build Back Better

[Yo_Mama_Been_Loggin]

It’s the Washington equivalent of a new Beyoncé album dropping: The Congressional Budget Office just released its “score” of the latest version of the Build Back Better bill. The House hopes to pass the bill Thursday night, and centrist Democrats may have been waiting to hear a bad deficit score to cut back or kill the bill.

But it turned out that the CBO score looks quite good for the BBB. It found that the bill will increase the deficit, but within a margin that should permit an important principle to kick in: While we should take the CBO’s analysis into account, we should also remember that there’s always a good bit of uncertainty in its projections.

Let’s first review what CBO found. Taking into account the various provisions, the CBO estimated that in total, the BBB would increase the deficit by $367 billion over 10 years.

On one key question — how much money will be raised by providing $80 billion to increase IRS enforcement on rich tax cheats — the CBO said it would raise $207 billion over 10 years, meaning the net savings would be $127 billion.

https://www.washingtonpost.com/opinions/2021/11/18/why-dems-shouldnt-listen-to-the-cbo/

[JohnSJ]

1. I hope so. Bloomberg seems to be playing it down though

[regnaD kciN]

2. Manchinema will no doubt balk...

...unless another $367 billion is immediately cut from the bill. They'll insist that, if it increases the deficit by even one cent, it's "totally unacceptable."

[Cicada]

3. As percent of gdp it rounds to zero

Over 10 years gdp will be maybe 350 trillion so extra deficit of say 150 billion is less than one part per in 2000. Rounds to zero.

[Rebl2]

4. Seems like

the networks are saying it raises the deficit this morning.

[LaMouffette]

5. In comparison, I wonder what the CBO score for Trump's massive tax cut scored.

If they even bothered to run it by the CBO.