Biden’s Tax Math for $4 Trillion Runs Into Congress Scorekeepers
- Revenue from IRS funding wouldn’t count under CBO guidelines
- May need to cut spending or find new sources of revenue
Photographer: Leigh Vogel/UPI/Bloomberg
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The Biden administration’s $4 trillion economic agenda is at risk of getting tangled up in the calculations of Congress’s budget scorekeepers.
Where the Treasury Department sees improved tax collection generating $700 billion in new revenue over a decade to help pay for programs, the Congressional Budget Office’s guidelines and own estimates may result in the legislative agency projecting nowhere near that.