Congressional Office Says Budget Deal Will Increase Deficit
Congress’ budget office estimates that the just-announced budget deal would increase the deficit over the next two years by $41.4 billion.
The analysis also says the deal would save taxpayers $23 billion, when calculated over the coming decade.
But there’s a cost when it comes to deficits.
The budget office says the bipartisan agreement would increase the deficit by $23.2 billion in 2014 and by $18.2 billion the year after that.
The deal permits $63 billion in relief from automatic spending cuts over the coming two years and substitutes $85 billion in longer-term savings and fee proposals over the coming decade.
That framework has drawn the ire of some conservatives.
Still, House Republicans today are signaling support for the plan, even though they say it isn’t perfect.
The House plans to vote before it adjourns for the year on Friday. (Associated Press)