CBO Estimates Infrastructure Bill Would Add $256 Billion to Deficits

$1 trillion infrastructure bill

would widen the federal budget deficit by $256 billion over 10 years, contradicting negotiators’ claims that the cost of the legislation would be covered by new revenue and saving measures. The bipartisan group who negotiated the infrastructure bill, which would provide roughly $550 billion in spending above expected federal levels, had said they anticipated the analysis from the Congressional Budget Office would differ from their own. They have said that some of the measures they are using to cover the cost of the bill, including repurposing Covid-19 aid, wouldn’t count the same way toward CBO’s official estimate.

Whether Republicans find that argument convincing will influence the level of support the bill ultimately receives. Seventeen Republicans joined all 50 Democrats on the bill last week, with additional Republicans saying the official CBO score would inform their ultimate support for the bill.Negotiators had struggled for weeks to agree on how to raise funds or find savings to cover the full cost of the package, a goal of both Republicans and Democrats in the talks. The White House ruled out raising the federal gas tax or other similar fees on those who use infrastructure, which have historically been sources of funds for infrastructure spending.

It creates jobs, boosts business, and increases consumption. Does the CBO even understand economics? that will greatly boost tax revenue.

SenMikeLee HumansAgainstMikeLee

SenMikeLee Please vote YES on the Wyden-Toomey-Lummis Amendment to the cryptocurrency provision of the Infrastructure Bill (H.R. 3684) and NO to the Portman-Warner-Sinema iteration.

SenatorLankford It’s been reported, that the 2017 tax cut would add almost $448 billion to the deficit over the next 10 years. And no tangible improvements for our country.

Americans want infrastructure, not frivolous right-wing programs that add to our debt building walls. Biden's bill would pay for its self, and boost employment. I Republicans should support this bill instead of spending hundreds of billions of tearing the country apart.

Tennesseans want infrastructure, not frivolous right-wing programs that add to our debt building walls. Biden's bill would pay for its self, and boost employment. I Republicans should support this bill instead of spending hundreds of billions of tearing the country apart.

SenatorLankford I got the solution man. Tax the wealthy and corporations. There you go problem solved...

SenMikeLee Today’s jobs report is decisive proof Democrats’ BuildBackBetter economy is working. Under POTUS & the Democratic Majorities in Congress, millions of good-paying jobs have been created, paychecks are surging & the economy is growing at the fastest rate in nearly forty years.

And worth it! Invest in America.

Just cut the military budget by 25 bil per year for the next ten years problem solved. That like 3%.

SenMikeLee Support 🇺🇸 Crypto innovation with the SenLummis SenToomey RonWyden amendment to the InfrastructureBill SenateDems SenateGOP JeanneShaheen SenScottBrown

SenatorLankford Weird how you don't mention this ⬇️

SenatorLankford If you happened on a car wreck with a limo and a beater, you probably would blow past. If the person in the limo had a hangnail and the person in the beater was bleeding profusely, I’m pretty sure we know who you would help.

SenMikeLee You just hate that nasty word “BIPARTISANSHIP ” 1/6 Capital Ransacking,, hell no BIPARTISAN,, hell no Infrastructure BIPARTISAN,,

SenatorLankford Huh?

SenatorLankford At least you’re not tweeting about sex and DNA again…. And it will be paid for when we start making certain individuals pay their fair share in taxes.

SenatorLankford Yeah, I see your point. What good are better roads or safer bridges or ⬇️ . 🙄

SenatorLankford TW 3/5/19 Lankford on Trump’s 2017 $1.5 trillion tax cut said he’s seen no evidence it’s “blown a hole” in the budget. he maintains the cut is paying for itself through increased economic activity, a claim that economists, for the most part, seem to disagree with.

The way to pay is to invite the top 3% to pay their fair share. The rich&Corp must pay at least 25% before any deductions. If not, you may find the oncoming tax revolt very uncomfortable. Certainly it will upset the economy, right?

SenatorLankford You are such a cutie pie 😍

SenatorLankford So, tax the wealthy.

SenatorLankford Did you read the article? smh This was not unexpected. But sure, raise the marginal corporate tax rate. Or fully fund the IRS. 😊

SenMikeLee Mike Lee blabbering—

SenMikeLee Mike Lee blabbering:

SenMikeLee Here comes derpy do Mikeroni to try to claim this is more costly than tax cuts for the rich. MikeLee is not a star when it comes to math.

SenMikeLee

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GOP senators look to add $50B for defense into infrastructure billTop Senate Republicans are looking to add more than $50 billion in defense funding to bipartisan infrastructure legislation to tackle overdue repairs and upgrade efforts at shipyards, depots, test ranges and defense laboratories What we need to do is move some of the bases from the South to more friendlier states. Unless and until the bill is paid for, it should not pass. Get to work, boys and girls…and play nice. When we invaded Iraq and came to Baghdad airport, there were a few old forklift trucks. The contractors sold them to the military for $50,000 each, they were worth maybe $2,000 for the lot. I guess the con continues.
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Rihanna Is Officially a BillionaireForbes estimates singer and business mogul’s net worth is now $1.7 billion have we been pronouncing her name right? Are we sure it's not pronounced like the Stevie Nicks' song? Boss girl riri!!
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Bipartisan $550B infrastructure bill nears critical Senate voteBreaking: The Congressional Budget Office found that the Senate's bipartisan infrastructure bill would raise deficit $256B over 10 years Oh you mean the deficit they say our grandkids are going to have to pay for? Just print the money why don't you, for goodness sakes! Its not our fault the Federal Government decied to put billions into wars and not our rail and road sytems since the 60's! Fix it! TaxTheWealthy it’s their economy. Deficits to finance infrastructure make sense.
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Bipartisan infrastructure bill inches through Senate as Schumer pledges to stay until it passesThe Senate is voting on amendments to the bipartisan infrastructure plan as Majority Leader Chuck Schumer aims to vote on it this week. Billionaires used tax loopholes to dodge paying approx $175 billion a year in tax revenue, made the news for a day or 2 that was it. Now the govt want to go after Cryto. Their will always be income inequality, middle & low earners bare the tax burden, govt takes everything
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Infrastructure bill includes key consumer safety measures to prevent drunk drivers, avoid hot car child deathsInfrastructure bill includes key consumer safety measures to prevent drunk drivers, avoid hot car child deaths. Sad we have to idiot proof the cars. Seems like this has the chance to punish drivers that never drink. All BS How is it going to prevent hot car child deaths😂😂😂
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U.S. infrastructure bill could be nearing final vote, key senators sayThe U.S. Senate could vote in the next few days on the $1 trillion infrastructure package that is one of President Joe Biden's top domestic priorities, said members of the bipartisan group of senators who negotiated the sweeping bill.
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