Estimated Budgetary Effects of H.R. 5376, the Inflation Reduction Act of 2022
Corrections and Updates
On August 5, 2022, CBO issued a revision to the table published on August 3, 2022, to include estimates of spending for sections 13601 and 13802. As a result, the updated estimate of the deficit reduction was lowered by $11.0 billion over the 2022-2031 period. CBO’s estimate of H.R. 5376, the Build Back Better Act, as passed by the House of Representatives on November 19, 2021, also did not include an estimate of the spending that would result from enacting a similar provision, section 136701. As a result, the estimated deficit for that piece of legislation also would be different, but CBO has not finished its estimate of that spending.