Biden’s ‘Build Back Better’ Plan Would Increase Deficit by $367 Billion Over 10 Years: CBO

U.S. President Joe Biden walks across the South Lawn as he leaves the White House in Washington, D.C., on Oct. 7, 2021. Chip Somodevilla/Getty Images

President Joe Biden’s “Build Back Better” legislation, if passed through Congress, would increase the U.S. deficit by $367 billion over 10 years, the Congressional Budget Office (CBO) said Thursday.

That estimate does not include the additional revenue that could be generated from tax enforcement activities, which the CBO suggested would be $207 billion in the next 10 years.