JCT Publishes Budget Estimates of Title XIII of H.R. 5376

JCT Publishes Budget Estimates of Title XIII of H.R. 5376

U.S. Joint Committee on Taxation

Revenue provisions of Title XIII of the Build Back Better Act (H.R. 5376) would raise $946 billion from 2022 to 2031, according to estimates released by the Joint Committee on Taxation on November 19.

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Revenue provisions of Title XIII of the Build Back Better Act (H.R. 5376) would raise $946 billion from 2022 to 2031, according to estimates released by the Joint Committee on Taxation on November 19.

Revenue provisions of Title XIII of the Build Back Better Act (<a href="/lr/resolve//7ckrc">H.R. 5376</a>) would raise $946 billion from 2022 to 2031, according to estimates released by the Joint Committee on Taxation on November 19. The JCT estimated that infrastructure and community development provisions would cost $29 billion over the 10-year period, provisions for green energy would cost $312 billion, social safety net provisions would cost $190 billion, corporate and high-income tax reform would generate $1.5 trillion, and the drug pricing provision would have no revenue effect.  The title’s provisions are estimated to cost a total of $121 billion in 2022 and generate $215 billion in 2031, according to the JCT. The five-year total between 2022 and 2026 is a projected cost of $26.6 billion.

Revenue provisions of Title XIII of the Build Back Better Act (H.R. 5376) would raise $946 billion from 2022 to 2031, according to estimates released by the Joint Committee on Taxation on November 19. The JCT estimated that infrastructure and community development provisions would cost $29 billion over the 10-year period, provisions for green energy would cost $312 billion, social safety net provisions would cost $190 billion, corporate and high-income tax reform would generate $1.5 trillion, and the drug pricing provision would have no revenue effect.  The title’s provisions are estimated to cost a total of $121 billion in 2022 and generate $215 billion in 2031, according to the JCT. The five-year total between 2022 and 2026 is a projected cost of $26.6 billion.