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What is in the Build Back Better Act?
On November 19, 2021 the House passed the Build Back Better Act, a wide-ranging bill that aims to accomplish numerous priorities of the Biden Administration. According to a CRFB analysis of calculations from the Congressional Budget Office and the Joint Committee on Taxation, the legislation would raise the deficit over the next 10 years by $160 billion. While the new spending is mostly offset by other savings, the bill also includes a number of budget timing gimmicks which could hide its true cost.
The proposed spending, tax cuts, and offsets are broken down in the following ways.
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