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.
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