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April 17, 2014 AT 6:17 AM
The Congressional Budget Office said on Thursday that if fully enacted, President Obama's fiscal 2015 budget request would boost U.S. tax revenues by nearly $1.4 trillion over 10 years, slashing deficits by $1.05 trillion while funding new spending. There is virtually no chance that Congress will advance Obama's plan in its entirety. But the CBO's latest analysis will feed campaign messaging by both Democrats and Republicans ahead of congressional elections in November.