Based on analysis by the Congressional Budget Office, the Federal Budget Committee is responsible for estimate The cost of the Build Back Better bill is $2.4 trillion and would add $160 billion to the deficit over the next decade and $750 billion to the deficit over the next five years.
Where things stand on Capitol Hill: House Democrats preparing to pass President Biden’s Plan for Substantial Expansion social safety net with a leadership race to ensure a legislative victory for the party even as major obstacles await in the Senate.
Democrats have been waiting for cost estimates from the nonpartisan Congressional Budget Office before voting on the legislation after moderators requested the information.
The CBO released its final score on the bill Thursday night, estimating that the package “will result in a net increase in the deficit to a total of $367 billion between 2022-2031, not counting any what additional revenue may be generated by additional funding of enforcement taxes,” according to a published summary.
The White House is now trying to make the case that the bill will be paid in full, although the CBO’s analysis shows a shortfall.
CNN’s Clare Foran and Morgan Rimmer contributed reporting to this post.
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