Democratic spending bill would add $367 billion to deficit, CBO says

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The Congressional Budget Office said on Thursday that the House Democratic version of President Joe Biden’s climate and social spending legislation would increase federal deficits by $367 billion over the next decade.

The much-anticipated score could further imperil passage of the legislation as it is currently written, given that some centrist Democrats such as Sen. Joe Manchin of West Virginia have pushed back on the notion of adding to the debt. Still, it is not as bad as some in the Biden administration had reportedly feared, and paved the way for the House of Representatives to move Thursday night to pass the legislation.

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