#CBO releases estimates for $1.75T Biden social spending bill

The Congressional Budget Office released four initial reports Wednesday on parts of President Biden’s sweeping $1.75 trillion social spending bill ahead of a planned vote in the House of Representatives next week.

The non-partisan office looked at parts of the bill contributed by the House Homeland Security, Science, Small Business, and Veterans Affairs committees. It ruled that all four sections “would not increase on-budget deficits after 2031” and fall within their respective budget functions.

On Tuesday, the CBO had said a full report, or “score,” on the bill could take some time to produce.

“Over the past several months, we have provided technical assistance to committees as they developed their proposals for various parts of the bill. The analysis of the bill’s many provisions is complicated, and CBO will provide a cost estimate for the entire bill as soon as practicable,” the CBO said in a statement Tuesday.

“We anticipate releasing estimates for individual titles of the bill as we complete them, some of which will be released this week. Other estimates will take longer, particularly for provisions in some titles that interact with those in other titles. When we determine a release date for the cost estimate for the entire bill, we will provide advance notice.”

Moderate Democrats in the House have been adamant in their calls to receive a CBO score before they agree to vote for the bill in its current form, but have stated that receiving a breakdown of the cost of key parts of the measure could be enough to sway them to vote in its favor.