Check the actual OD of the bushing first. You might be able to get by with using a 3/4" drill bit. If that is the case, and depending on the size of your drill press, I would look for a set of Silver and Deming drill bits. They are usually not terribly expensive, and will probably give you the best bang for the buck if your drill press will handle them. I've got a five piece set which includes 9/16", 5/8", 3/4", 7/8", & 1", all with 1/2" shanks. I paid about $30 for the set about 30 years ago, so I expect you will pay more for them now, but I've used them an awful lot. Chances are the OD of the bushing will be right at .750" and the drill bit will tend to go oversize by a few thousandths so will not work.
I have cheated already in such a situation by drilling the hole, then peening the inside of the hole with a center punch. This raises the metal around each punch mark, and making a tighter fit for the bushing.