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The House’s version of President Joe Biden’s signature social-spending bill raises nearly $1.48 trillion in new tax revenue, according to the Joint Committee on Taxation (JCT).

The plan also includes $24.8 billion for a fee on businesses that pollute, pushing the total of new revenue to roughly $1.5 trillion. Still, the money from tax increases on the wealthy and corporations falls short of the $1.75 trillion that Democrats say they want to spend on new social programs.


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