U.S. budget referee to release infrastructure bill cost estimate on Thursday

Reuters
·1 min read
FILE PHOTO: Commuters wait for the Chicago Transit Authority Blue line train in Chicago

WASHINGTON (Reuters) - The U.S. Congressional Budget Office said it will release on Thursday its cost estimate for the bipartisan infrastructure bill now being debated in the U.S. Senate, according to a posting on the CBO's website.

The estimate of the Infrastructure Investment and Jobs Act's budgetary costs over the next 10 years could heavily influence the level of support it has in both the Senate and the House of Representatives. Summaries of the bill highlight $550 billion in new spending over a decade, but revenue offsets totaling only $480 billion.

(Reporting by David Lawder; editing by Jonathan Oatis)