The House financial regulation reform bill that recently passed the Senate would increase the budget deficits by $19.7 billion over the 2011-2020 period if enacted unchanged, according to a cost estimate released Wednesday by the Congressional Budget Office.
The bill, passed May 20, has moved to a bicameral conference to be reconciled with the Senate version of the regulation bill. A May 3 estimate released by the non-partisan CBO predicted that the Senate bill would decrease the federal deficit by $19.5 billion over 2011-2020.