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Last week, the Congressional Budget Office—the body tasked with figuring out the expense of federal legislation—revised its estimate for how much the Inflation Reduction Act will cost through fiscal year 2033. The IRA will cost about $428 billion more than expected, the CBO said. CBO Director Phill Swagel explained that the package’s clean energy incentives “are much higher than the staff of the Joint Committee on Taxation originally projected. Those costs reflect new emissions standards, market

New yorkUnited statesWhite houseDistrict of columbiaBrian deeseTim sahayPhill swagelGoldman sachsCommittee on taxationCongressional budget officeNational economic councilRanking senate budget committee republican chuck grassleycomplainedEnvironmental policy researchMassachusetts institute of technology centerNew york timesInflation reduction act