Testimony on CBO’s Budget and Economic Outlook: 2018 to 2028
Corrections and Updates
On April 17, 2018, CBO reposted this testimony with a corrected value of 0.9 million jobs for the effect of the 2017 tax act on average nonfarm payroll employment during the 2018–2028 period. That correction was made on page 2. In reporting the original number, 1.1 million, CBO inadvertently included some effects of historical data released after the act was passed. The correction does not materially affect CBO’s estimates of the tax act’s other effects on the economy or the federal budget.