The Congressional Budget Office (CBO) said Thursday that the so-called bipartisan infrastructure bill would add $256 billion to the deficit over ten years.
The CBO found that the bipartisan infrastructure bill, or the Infrastructure Investment and Jobs Act, would add significantly to America’s deficit.
This analysis arises as Senate Republicans remained poised to advance the legislation Thursday and possibly pass the bill alongside Senate Democrats.
The University of Pennsylvania’s Penn-Wharton Budget Model also gave a dismal analysis of the infrastructure proposal, noting that it would “have no significant impact” on economic growth. The model also found that the legislation’s pay-fors would not meaningfully offset the cost of the mammoth, $1.2 trillion legislation.
Immediately after the CBO released its analysis, Sen. Steve Daines (R-MT) said he would vote against the infrastructure bill. He said that this bill would skyrocket the debt while Americans continue to feel the pain of surging inflation. Daines said:
Montanans were told and promised that this massive, 2,700-page bill would not increase the debt. Unfortunately, according to Congress’ nonpartisan budget scorekeeper, the package not only increases the debt, it increases it by $256 BILLION. This is absolutely unacceptable, especially at a time when Montana families are already dealing with soaring inflation and skyrocketing prices on everything from gas to groceries.
The Montana conservative also noted that this bill could lead Democrats to pass an even larger reckless spending bill.
“What’s worse, Senator Tester, Chuck Schumer and Nancy Pelosi will now turn right around and pass another whopping $3.5 trillion in their reckless tax and spend spree bill, filled with tax increases that will hurt Montana families, farmers and ranchers,” the Montana conservative said. “The Democrats are taking our country in the wrong direction and heaping huge amounts of debt on future generations.”
Sean Moran is a congressional reporter for Breitbart News. Follow him on Twitter @SeanMoran3.