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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US
- Earlier today, the Penn Wharton Budget Model (PWBM) released estimates that as written the White House's Build Back Better reconciliation framework would increase spending by $1.87 trillion over the 10-year budget window while increasing revenues by $1.56 trillion over the same period.
- PWBM projects the reconciliation package will increase federal debt by 2.0% and decrease GDP by 0.1% in 2050, relative to the current law baseline.
- Under an alternative, illustrative scenario in which all spending provisions in the White House framework are permanent except the clean energy tax credits, new spending would instead increase by $4.26 trillion and new revenue would still increase by $1.56 trillion over the 10-year budget window. The federal debt would be 25.2 percent higher and GDP 2.8 percent lower in 2050, relative to current law.
MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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