The non-partisan Congressional Budget Office released today estimated budgetary effects of Title XIII, Committee on Ways and Means, H.R. 5376, also known as the badly named, but enlightened policy bill – the Build Back Better Act. BBBA according to CBO estimates would result in a net decrease in the unified deficit totaling $797.7 billion over the 2022-2031 period. That decrease in the deficit would result from an increase in direct spending of $411.5 billion and an increase in revenues of $1,209.3 billion.
Some of those budgetary effects are associated with programs that are classified as off-budget. The decrease in the on-budget deficit over that period would be $783.3 billion. To do the math for insurrectionist Republicans, this adds to ~$14 Billion dollars in the black, which likely because of the color means that most Republicans will no doubt oppose it. The failed former president, currently the insurrectionist in chief residing in Flori-duh, not only didn’t actually do anything to repair the infrastructure despite voluminous weekly (weakly?) announcements that it was infrastructure week, his tax cuts for the rich ran up record deficits as well.*see below.
This CBO estimate is based on language in two documents, which are available from the House Committee on Rules:
- Rules Committee Print 117-18, Text of H.R. 5376, Build Back Better Act
- Rules Committee Print 117-18, Yarmuth Amendment 112
* Trump Economic Policy Disasters
- Trump’s Losing Trade Wars – Auto and Other Deficits Grow
- Covid Causalities: US Trade Deficit Continues to Increase
- Federal Deficit for FY 2020 To Date – $2.8 Trillion or +$1.9 Trillion Year-over-Year
- May US Budget Deficit, Gulp, $424 Billion
- US International Trade Deficit Soars in April to $50 Billion
- US Trade Deficit $39.9 Billion in February
- Trump Deficit Growing: $625 Billion FYTD – $80B Higher YoY
- US Trade Deficit Continues at $45 Billion a Month
- Ten-Month US Budget Deficit Now at $867 billion. $Trillion Deficits Now Certain Under Current Economic Policies
- US Deficit and Government Spending Grow in Q2
- Trump Record Deficit Watch – Another Proposed Increase
- Making the Budget Deficit Great Again. November at $203 billion. Interest for Debt up $5 Billion
- Trump on Track for Largest Deficits in U.S. History.