CBO: Bipartisan infrastructure bill will add $256B to national debt in next decade

The nonpartisan agency’s report said the bill would decrease direct spending by $110 billion, increase revenues by $50 billion and increase discretionary spending by $415 billion from 2021-2031.

“On net, the legislation would add $256 billion to projected deficits over that period,” the CBO wrote.

The report did not factor in potential revenue increases created by economic growth.

Lawmakers introduced the $1.2 trillion bill, which includes some $550 billion in new spending on Sunday.

Lead infrastructure negotiators Sens. Rob Portman, R-Ohio, and Kyrsten Sinema, D-Ariz., issued a joint statement saying the cost of the bill, which does not include tax increases, is partially offset “through a combination of revenue and savings,” some of which was reflected in the CBO’s score that they described as “limited” and some of which is reflected in other savings and additional revenue.