President Joe Biden’s $1.75 trillion social-policy and climate-change legislation would raise less than $1.5 trillion in revenue, nonpartisan tax experts said on Thursday, but Democrats argued that the bill they aim to pass by Thanksgiving is paid for.
The official U.S. Joint Committee on Taxation issued a report scoring the “Build Back Better” legislation’s revenue provisions at $1.48 trillion over the next decade, some $270 billion short of the top-line spending figure.
