Thursday, November 18, 2021

BREAKING NEWS: CBO delivers full $1.7T cost estimate for Democrats’ social spending plan

The Congressional Budget Office predicts Democrats' social spending package will cost $1.7 trillion over a decade and add $367 billion to the deficit, a crucial forecast that could prompt a quick House passage vote after weeks of delay.

With the CBO score in hand, House leaders plan to move to passage as soon as Thursday, assuming the price tag satisfies the moderate Democrats who demanded the official cost estimate before proceeding with a vote.

The cost of the package is certain to change in the Senate, however, as hundreds of billions of dollars in policies are likely to face alteration or the ax. At-risk provisions include paid leave and immigration reform, with the former encountering resistance from centrist Democrats and the latter scrutiny from the Senate parliamentarian, who can remove provisions if she judges them incompatible with the upper chamber's rules.

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