So, how will Biden’s $1.7T Build Back Better plan be ‘fully paid for’?: Democrats could DROP the $80billion IRS enforcement investment to track American bank accounts to get bill through the Senate

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  • Moderate Dems said they’ll vote for the bill when they know how it’s paid for
  • The White House claims the $80B would’ve generated $400B over 10 years 
  • Because Congressional Budget Office guidelines say it can’t include money going out as money coming in during calculations, it may not be included
  • But that would also leave a $400 billion spending hole in Biden’s plan
  • An unofficial CBO estimate put the real revenue increase at roughly $200 billion

Democrats are reportedly close to dropping a provision from President Joe Biden’s $1.75 trillion Build Back Better bill that would allocate $80 billion toward strengthening Internal Revenue Service (IRS) tax enforcement.

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White House and Treasury Department calculations estimate the investment would bring in $400 billion over 10 years as part of Biden’s promise that his sweeping social and environmental agenda would be ‘fully paid for.’

Moderate Democrats in the House and Senate have said they won’t vote for the progressive-backed bill until they know where the money for it will come from.

That could be a problem for Biden, since Congressional Budget Office guidelines wouldn’t allow for a concrete estimate on how much money the IRS funding would bring in.


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