CBO to release full cost estimate for 'Build Back Better' plan by Nov. 19

Reuters
Updated ·1 min read
FILE PHOTO: U.S. President Biden visits New Jersey
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(Reuters) -The Congressional Budget Office said it anticipates publishing a complete cost estimate for U.S. President Joe Biden's "Build Back Better" plan by Friday, Nov. 19.

The $1.75 trillion proposal aims to expand the social safety net in the United States and boost climate change policy. The estimate will be published on the CBO's website.

The CBO, a nonpartisan arm of Congress, is expected to provide revenue scores for the IRS and drug-pricing provisions, Democratic lawmakers have said.

Ito began publishing estimates for individual elements of the bill on Nov. 10, and has published six so far.

If passed by the House of Representatives, the social policy legislation would move to the Senate, also narrowly controlled by Democrats, where Majority Leader Chuck Schumer wants to enact it before the Nov. 25 Thanksgiving holiday.

(Reporting by Kanishka Singh in Bengaluru; Editing by Doina Chiacu and Jan Harvey)