Zero cost? Congressional Scorekeeper Says House Democrat Bill Would Raise Taxes $1.5 Trillion

  • The tax hikes with which House Democrats plan to offset the costs of their infrastructure and social welfare legislation would raise enough revenue for at least a $1.5 trillion plan, according to an estimate released on Thursday from official congressional scorekeepers.
  • The plan would generate $813 billion from changes to the corporate and international tax code and about $250 billion from a surtax on those earning more than $10 million per year, in addition to a litany of other provisions, according to an analysis released by the nonpartisan Joint Committee on Taxation.
  • “These are historic policy achievements in and of themselves — and they also pay for transformational investments that will improve the lives of American workers, our children, and the generations that will follow,” the Treasury Department said after the JCT analysis was released.

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