Nancy Pelosi Brings In New Tax Revenue Estimate

Nancy Pelosi
Nancy Pelosi

Nancy Pelosi, the House Speaker, brought out the analysis on the safety net bill of $1.75 trillion before the JCT or Joint Committee on Taxation. Her analysis was based on the grounds that the legislation was already paid for.

The JCT has already put forward an estimate for the Build Back Better bill which sees the House raising almost $1.47 trillion from new taxes- as proven by a new analysis that was released on Thursday. The analysis of JCT is an objective view that has been solidly paid for and that doesn’t even factor in the agreement on prescription drugs, which not only generates enforcement but also resources. 

Nancy Pelosi Has To Convince The Centrists in The House

Most of the legislators on the Democratic end have been trying to set up a deal with regards to the legislative agenda of Joe Biden for months now. There is also a provision for a reservation for quite a few legislators who have stated that they want to see the JCT, as well as the Congressional Budget Office, provide an estimate on the official cost of the legislation before they agree to the idea, and Nancy Pelosi doesn’t seem to have a problem with that. 

Most of the party leaders have also been seeking to bring about a deal so they would be able to pass the social spending legislation of Joe Biden along with a separate infrastructure package through the House for this week. Nancy Pelosi mentioned that they will be passing both the bills but to pass them, they would have to first vote on them. 

This week also saw five of the centrist House Democrats- Jared Golden, Ed Case, Josh Gotteheimer, Stephanie Murphy, and Kurt Schrader- deliver a letter informing Nancy Pelosi that they wanted an estimate on the official cost of legislation before they considered any of the proposals for the Build Back Better plan. 

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