The recently announced one-year delay in the imposition of certain penalties and requirements under the Affordable Care Act will raise the 10-year costs of its health insurance coverage provisions by an estimated $12 billion.
Projections of income earned by individuals and businesses are an integral part of CBO’s regular 10-year projections of the economy and a key component of its projections of federal revenues and outlays.
Canceling the automatic spending reductions in effect for 2013 and scheduled for 2014 would increase both real GDP and employment in 2014 compared with what would occur under current law, CBO estimates, but federal debt would be greater.
The current trajectory of the Highway Trust Fund is unsustainable. Starting in fiscal year 2015, the trust fund will have insufficient resources to meet all of its obligations—CBO projects—resulting in steadily accumulating shortfalls.