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CBO: Infrastructure Bill to Increase U.S. Budget Deficits by $256 Billion Over Decade | U.S. News®

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WASHINGTON (Reuters) – The $1 trillion bipartisan infrastructure bill being debated in the U.S. Senate would increase federal budget deficits by $256.1 billion over 10 years, the Congressional Budget Office said on Thursday, leaving the measure well short of calls by some lawmakers that it be fully paid for.

The long-awaited CBO cost estimate, which could influence support in the evenly divided Senate, found that the Infrastructure Investment and Jobs Act would increase discretionary spending by $415.5 billion and increase revenues by $49.7 billion, compared to the baseline of existing laws. It also would decrease direct spending by $109.6 billion compared to that baseline, CBO said.

Copyright 2021 Thomson Reuters.

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