Live Updates: Congressional Budget Office to release cost estimate of Build Back Better

Washington —The nonpartisan Congressional Budget Office (CBO) will release its cost estimate of President Biden's signature social spending plan, the Build Back Better Act, on Thursday, setting the stage for the House to move forward with a vote on the sweeping package in the coming hours.

Lawmakers began debate on the $1.75 trillion social spending and climate change package Thursday morning, and a vote for final passage of the bill will be a key step for lawmakers toward enacting the second pillar of Mr. Biden's domestic policy agenda.

House Speaker Nancy Pelosi told reporters lawmakers are still waiting on a final financial analysis of the package from the CBO, as well as remaining provisions of the bill to be analyzed by the Senate parliamentarian to ensure it complies with the basic requirements under budget reconciliation procedures.