Changes in economy and law cloud outlook
In March 2010, just before the Affordable Care Act, better known as Obamacare, was enacted, the Congressional Budget Office and the staff of the Joint Committee on Taxation, estimated that the law would reduce budget deficits by $124 billion over the period 2010-2019. However, earlier this month, the CBO announced that it would no longer attempt to estimate the budget impact of the law, despite a request from a Member of Congress. The CBO says, “In the four years since those estimates were produced, there have been significant changes in the economic outlook, in the health care and health care financing systems, in CBO and JCT’s estimating methodologies, in provisions of law that relate to the ACA, and in the implementation of the ACA as guided by judicial decisions and administrative actions. All of those changes could affect the impact of the ACA on budget deficits, potentially in significant ways.”
The Congressional Budget Office statement and explanation is published online.
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