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Build Back Better: Who pays for it, through tax increases – or not?

admin by admin
November 20, 2021
in Tax
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Build Back Better: Who pays for it, through tax increases – or not?

Late Thursday, the Congressional Budget Office said the current version of the bill does not pay for itself, and increase the deficit by $367 billion over the next decade. But CBO score doesn’t include all of the revenue-raisers included in the bill, and the Biden administration said it believes the costs are covered.

But Montana’s Republican U.S. senator, Steve Daines, is strongly opposed to the measure – and maintains that while its tax provisions may be targeted at wealthy taxpayers and corporations, the impact will be felt by everyone, and ultimately hurt the economy.

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