By Richard Cowan and David Morgan | Reuters
WASHINGTON – The U.S. House of Representatives pushed toward a possible Thursday vote on President Joe Biden’s $1.75 trillion domestic investment bill, despite a nonpartisan arbiter’s finding that it would add to the deficit.
The Congressional Budget Office said it would increase federal budget deficits by $367 billion over 10 years, although it acknowledged that additional revenues could be generated through improved Internal Revenue Service tax collections.
The CBO estimated that the new tax enforcement activities would generate a net increase in revenues of $127 billion through 2031. The White House estimates the changes will generate $400 billion in additional revenue.
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