CBO analyzes the impact of retirement benefits on the federal budget and on the compensation, recruitment, and retention of its employees. It assesses the short-term and long-term effects of potential changes to those benefits.
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CBO and the Joint Committee on Taxation estimated the effects on the federal budget, health insurance coverage, market stability, and premiums if payments for cost-sharing reductions would end after December 2017.
Tomorrow afternoon, CBO expects to release a report, which is being prepared with the staff of the Joint Committee on Taxation, about the effects of terminating payments for cost-sharing reductions.
The federal budget deficit was $568 billion for the first 10 months of fiscal year 2017, the Congressional Budget Office estimates—$56 billion more than the shortfall recorded during the same span last year.
CBO and the Joint Committee on Taxation will soon release estimates of the effects of the version of H.R. 1628, the Better Care Reconciliation Act, posted this morning on the Senate Budget Committee’s website.
Later today, CBO and the Joint Committee on Taxation (JCT) will release estimates of the effects of the Obamacare Repeal Reconciliation Act of 2017.
Under the President’s proposals, budget deficits from 2018 through 2027 would total nearly one-third less than those in CBO’s baseline projections, ranging between 2.6 percent and 3.3 percent of GDP, down from 3.6 percent in 2017.
The federal budget deficit was $520 billion for the first nine months of fiscal year 2017, the CBO estimates—$120 billion more than the shortfall recorded during the same span last year.
CBO will release its analysis of the President’s fiscal year 2018 budget on Thursday, July 13th at 11:00 a.m. The report will be available on CBO’s website.
Medicaid spending under the Better Care Reconciliation Act of 2017 would be about 35 percent lower in 2036 compared with CBO’s extended baseline. Such spending under the bill would increase each year throughout the next two decades.