Direct spending and revenue effects of H.R. 3762, as passed by the Senate on December 3, 2015, and following enactment of the Consolidated Appropriations Act, 2016
CBO and the staff of the Joint Committee on Taxation (JCT) have updated their estimate of the budgetary effects of H.R. 3762, the Restoring Americans’ Healthcare Freedom Reconciliation Act, as passed by the Senate on December 3, 2015. Since that estimate was completed, the Consolidated Appropriations Act, 2016 was enacted on December 18, 2015. It contained several provisions—including a delay of the medical device tax, a one-year moratorium on the health insurance tax, and a delay of the tax on certain employee health insurance premiums and health plan benefits along with changes to the deductibility of that excise tax—that affected CBO and JCT’s estimate for H.R.3762. Over the 2016-2025 period, estimated savings are $36 billion larger, without macroeconomic feedback, and $42 billion larger, with macroeconomic feedback, relative to CBO and JCT’s prior estimate for H.R. 3762. The change in the estimate of macroeconomic feedback also reflects some technical revisions to the previous estimate. For additional information on the estimated effects of H.R. 3762, see https://www.cbo.gov/publication/51090.