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U.S. Senate climate, drug bill would lower deficit, Congressional Budget Office says

Reuters · Reuters Staff · last updated

WASHINGTON, Aug 3 (Reuters) — The Congressional Budget Office said on Wednesday it has estimated that a $430 billion drugs, energy and tax bill proposed by Senate Democrats would result in a net decrease in the deficit of $102 billion over a 10-year period.

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The federal government and states are in the process of implementing two laws — the Infrastructure Investment and Jobs Act and the Inflation Reduction Act — an investment of more than a trillion dollars to address climate change.

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