House Democratic leaders said lawmakers could vote on a $1.85 trillion social welfare spending bill as early as Thursday before a full cost analysis is completed.
Majority Leader Steny Hoyer told reporters the House will begin debating the Build Back Better plan on Wednesday, with a vote as early as Thursday “and hopefully the latest on Friday … or Saturday.”
The announcement means House Democrats may be forced to vote on the massive bill before the nonpartisan Congressional Budget Office produces a final analysis of the cost of the bill, known as a score, which party centrists have insisted on seeing ahead of consideration.
Hoyer told reporters the vote would happen after the CBO provides enough information “to get fiscal posture of Build Back Better clearer … which does not necessarily mean a CBO score.”
Hoyer’s announcement follows reports that the CBO analysis will show the legislation’s provisions to offset the cost with new IRS enforcement will produce far less revenue than anticipated.
According to the New York Times, White House officials are warning Democrats to disregard the CBO score as far too conservative in estimating revenue the IRS will produce from stepped-up enforcement.
The information could alarm party centrists who have expressed concern that the high cost of the plan will add to the deficit and drive up inflation and other negative economic consequences.
Hoyer dismissed those concerns on Tuesday, telling reporters he anticipates the CBO score will align with a White House estimate offered earlier this month that found the revenue offsets would fully pay for the measure and even reduce the deficit over the next decade.
The White House estimated the tax increases in the measure would bring in enough revenue to cut the deficit by “at least” $2 trillion over the next 20 years.
“My expectation is that the information will be consistent with the information we have received from the White House and will therefore warrant the support of individuals sufficient to have 218 votes,” Hoyer said.
Hoyer said he initially planned to adjourn the House for the Thanksgiving recess on Thursday but said lawmakers will remain in session until the Build Back Better bill passes this week.
Democrats hold a bare majority in the House and must pass the measure unilaterally thanks to unanimous GOP opposition to the bill. The measure cannot pass if Democrats lose more than three party votes.
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Californian Rep. Pete Aguilar, who is vice chairman of the Democratic Caucus, told reporters that fellow lawmakers anticipate the CBO will provide additional cost analysis each day this week, which will give a fuller picture of the overall cost by the time the vote takes place.
“That’s our hope, that we’ll have more information to be able to take a vote by Friday,” said Aguilar.