Infographic: What Is in the Build Back Better Act?
Last Updated November 22, 2021
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.
Further Reading
Republicans Considering Costly Tax Cut Proposals
Leaders in Congress and the Administration have outlined a broad package of tax cuts that could total $9.1 trillion.
Why Do Budget Baselines Matter?
Applying the current-policy baseline would not only be fiscally irresponsible in terms of this year’s tax debate, but it would set a dangerous precedent for the future.
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Here are the pros and cons for three approaches to increasing funds dedicated to Social Security.