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Infrastructure bill projected to add $256 billion to deficit: CBO

As of Thursday, Lawmakers were still working through amendments to the $555 billion legislation.

WASHINGTON — The Congressional Budget Office estimates the bipartisan infrastructure bill will add $256 billion to the deficit over 10 years, one of the final pieces lawmakers were awaiting before the Senate moves onto final consideration of the bill.

The bipartisan group that negotiated the bill had worked to make it "paid for," congressional speak for not adding to the deficit. But the CBO disagreed.

"The Congressional Budget Office estimates that over the 2021-2031 period, enacting Senate Amendment 2137 to H.R. 3684 would decrease direct spending by $110 billion, increase revenues by $50 billion, and increase discretionary spending by $415 billion," the report said. "On net, the legislation would add $256 billion to projected deficits over that period."

On Monday and Tuesday, the Senate voted on a series of amendments to the roughly $550 billion legislation, which would invest heavily in the country's roads and highways, public transit, water systems and broadband.

Senate Majority Leader Chuck Schumer, D-N.Y., said Thursday, "we will consider even more amendments and then, hopefully, we can bring this bill to a close very shortly."

He added that the Senate will stay in session and cut into the August recess — which is scheduled to begin this weekend — to complete passage of the infrastructure bill and a budget resolution, which precedes work on the separate, multitrillion-dollar bill.