The Latest Breaking News from CBO

WASHINGTON — President Joe Biden’s decision to forgive some federal student debt will cost the U.S. Treasury at least $400 billion, the Congressional Budget Office estimated.

The Congressional Budget Office estimates that President Joe Biden’s plan for student debt cancellation will cost about $400 billion over the next 30 years

Media "fact-checkers" are taking administration promises at face value and using them to bludgeon Republicans.

With inflation raging near its highest level in four decades, Congress is poised to approve President Joe Biden’s signature Inflation Reduction Act

The House on Friday cleared a climate, health and tax package salvaging key parts of Democrats’ domestic agenda.

The Schumer-Manchin tax bill passed the Senate as part of the Inflation Reduction Act on Sunday. According to legislative documents, the bill will raise taxes and boost the IRS by an estimated $80 billion.

WASHINGTON — After a year of negotiations, impasses and political maneuvering, the Senate passed Democrats’ top domestic priority: an economic package that would pump hundreds of billions of dollars into clean energy programs, raise taxes on corporations and lower health care costs.

After a year of negotiations, impasses and political maneuvering, the Senate passed Democrats' top domestic priority.

The Senate voted to begin considering Democrats’ climate, tax and health package on a party-line vote Saturday.