CBO estimates that the funding for tax enforcement activities provided by H.R. 5376, the Build Back

[demmiblue]

CBO estimates that the funding for tax enforcement activities provided by H.R. 5376, the Build Back Better Act, would increase outlays by $80 billion and revenues by $207 billion, thus decreasing the deficit by $127 billion, through 2031.

Link to tweet

Estimated Revenue Effects of Increased Funding for the Internal Revenue Service in H.R. 5376, the Build Back Better Act

CBO estimates that the funding for tax enforcement activities provided by H.R. 5376, the Build Back Better Act, would increase outlays by $80 billion and revenues by $207 billion, thus decreasing the deficit by $127 billion, through 2031.

This letter responds to a request for information about the revenue effects of funding for the Internal Revenue Service that would be provided by the current version of H.R. 5376, the Build Back Better Act (Rules Committee Print 117-18 incorporating a manager’s amendment by Congressman Yarmuth). The Congressional Budget Office estimates that the funding for tax enforcement activities provided by the bill would increase outlays by $80 billion and revenues by $207 billion, thus decreasing the deficit by $127 billion, through 2031. That change in revenues is not included in CBO’s estimate of the budgetary effects of the Build Back Better Act.

https://www.cbo.gov/publication/57620

[mcar]

1. No excuse to not pass it now

[LonePirate]

4. Oh, the usual suspects will undoubtedly find a reason not to support it.

It's not about the budget for them and never has been, apart from serving as an excuse to hide their policy preferences if the bill had increased the deficit instead of reducing it.

[TwilightZone]

11. It does increase the deficit.

This is only the increased tax enforcement portion. There's another thread about the rest of the bill. The net is a deficit increase, though (in my opinion), a minor one.

[PoliticAverse]

7. That's only one part of the bill. This isn't a statement as to the net cost/revenue of the entire

bill.

[elleng]

2. would increase outlays by $80 billion and revenues by $207 billion.

[underpants]

6. Gee, this thread is completely different than the other one.

Thanks for providing the basic facts.

[TwilightZone]

10. It's two different things.

This one is about the IRS increasing tax enforcement. The other is about the rest of the bill.

[brush]

3. That sounds like great news, right? Manchin and repugs certainly can't complain...

about increased debt and inflation from those figures.

[underpants]

13. The NY Times is reporting it differently

https://www.democraticunderground.com/10142828623

Budget Office Determines Democrats' Spending Bill Will Nudge Deficit Higher

[brush]

16. Won't the increased revenue more than offset that?

[Carlitos Brigante]

5. "Lalalalalaaala!!! Can't hear you...." - Maserati Joe

[padah513]

8. Yeah he's got goal posts to move

[Carlitos Brigante]

9. "Did I say CBO? I meant ZBO.... Yeah, that's totally a thing that I didn't just make up...." nt

[asiliveandbreathe]

15. Eddie Murphy..lalalala

?t=10

[TwilightZone]

12. Note: this is ONLY the tax enforcement portion of the estimation, not that of the entire bill.

Thread on the rest of the bill here: https://www.democraticunderground.com/100216065069

[Kingofalldems]

14. Kick and rec.

[WarGamer]

17. By focusing on who?

On the retired Grandma who sells hand made candles at the Farmers Market?

Or the Plastic Surgeon who manipulates his taxes?

[SergeStorms]

22. Almost anyone with direct deposit of their paycheck....

is going to move over 10K a year through their accounts. They can't audit everyone. They should have their computers flag anyone with over 100K moving through their accounts and leave everyone else alone. They should! I know they won't.

[WarGamer]

23. +1000 nt

[Bernardo de La Paz]

18. Raise the tax rates on excessive wealth generation and enforcement pays even bigger dividends. . .nt

[Takket]

19. waiting for the media to start asking "deficit hawk" rethugs why they oppose a bill the reduces the

deficit.

[ffr]

20. Bill Clinton, the president who put us on track to paying the entire U.S. Debt off by 2009

Approves this message.



And so does Hillary Clinton, the U.S. SoS and U.S. Senator with 62%+ approval ratings.

[WarGamer]

21. Best POTUS of my lifetime...

A wonderful 8-year memory from the wonderful decade... the 90's...