Tag: CBO

CBO: Trump’s ‘Big, Beautiful Bill’ Would Add $3.3 Trillion to Deficit

Buck Banks

$3.3 trillion

The CBO estimates that the Republican reconciliation bill that the Senate is considering will increase the deficit by nearly $3.3 trillion between 2025 to 2034, Bloomberg reports.Punchbowl News says Senate Republicans and the White House reject the CBO estimate as inaccurate. The White House estimates it will cut the deficit by $4.9 trillion over the next decade.

Trump Administration’s Deficit Forecast Is Waaaaay Off

Buck Banks

$9.5 trillion

“The Congressional Budget Office estimates the government will take in $1.9 trillion less in revenue and spend $300 billion more over the next decade than the White House estimated under its latest budget proposal if the plan were enacted,” the Wall Street Journal reports. “Deficits would total $9.5 trillion over the coming decade, or $2.3 trillion more than the White House estimates.”

ACA Repeal Would Take Insurance from 32 Million Americans

Buck Banks

32 million

The CBO estimates that the GOP repeal-only health care bill would increase the number of people who are uninsured by 17 million in 2018, compared with the number under current law. That number would increase to 27 million in 2020, after the elimination of Medicaid expansion and the elimination of marketplace subsidies, and then to 32 million in 2026. In addition, average premiums in the nongroup market would increase by roughly 25% in 2018. The increase would reach about 50% in 2020, and premiums would about double by 2026.