The impact of the bill on federal revenues depends on which baseline you start with.

The Joint Committee on Taxation determined that the bill would increase the deficit by $3.9 trillion over 10 years, because that is the amount of revenue lost compared with current law, which would let all tax cuts expire.

President Obama said the bill included $620 billion in new revenues over a decade. He was comparing it to what revenues would be if all tax cuts were extended.