Foto
28Nov

CBO: Senate Tax Bill Is Even Worse For Low-Income People Than Thought

By: Erik Sherman

Published: November 27, 2017

The Congressional Budget Office just released a new analysis of the Senate’s tax bill. The CBO examined the combined effect of changes in tax law with reductions in federal spending, like changes in “Medicaid, cost-sharing reduction payments, the Basic Health program, and Medicare.”

The agency subtracted changes in federal spending for different income groups from the change in federal revenues allocated to each group. Essentially, the analysis looked at how much effect increased taxes from a group and decreased spending on the same group had on overall deficit estimates.

The groups hit hardest — the ones providing a reduction to federal deficits — are the poorest.

To read more, click here. 

Add Your Review

Rating*