WASHINGTON: President Barack Obama’s fiscal 2015 budget request would boost US tax revenues by nearly $1.4 trillion over 10 years if fully enacted, slashing deficits by $1.05tr while funding new spending, the Congressional Budget Office said on Thursday.
There is virtually no chance that Congress will advance Obama’s plan in its entirety. But the CBO’s latest analysis will feed campaign messaging by both Democrats and Republicans ahead of congressional elections in November.
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