Deep Dive (Nov. 10): Build Back Better Bill to Cost $2.4 Trillion, Not $1.5 Trillion: CRFB Report

House Speaker Nancy Pelosi is optimistic they’ll vote on President Joe Biden’s social spending plan next week. But it might not happen that soon. Five Democrats—enough to block the bill– are waiting for the Congressional Budget Office (CBO) to score the spending bill. CBO is warning that it might not be done with the full cost estimate by next week, saying some parts will be released this week, but “other estimates will take longer, particularly for provisions in some titles that interact with those in other titles.”

The holiday season is right around the corner. Postmaster General Louis DeJoy says the Postal Service is ready to deliver holiday packages efficiently. DeJoy’s assertion comes after he previously apologized for slow mail delivery during last year’s peak season. It also follows the unveiling earlier this year of a 10-year plan for USPS involving a series of changes, which include longer wait times and higher prices.

The IRS is cracking down on digital payments. It now requires electronic payment apps to report such transactions if they total more than $600 a year. The change is part of the American Rescue Plan and it’s designed to crack down on unpaid taxes.

Tune into Deep Dive as we explore these topics and more.

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