The US capitol on October 9, 2024. (Photo by Jane Norman/States Newsroom)
Washington -The imperial budget office of the congress released a detailed analysis on Wednesday, in which the “large, beautiful calculation” of the Republicans will be increased by 2.4 trillion dollars by $ 2.4 trillion in the next decade.
CBO projects that legislation, if they are enacted in writing, would lose 10.9 million people by 2034, access to health insurance, a number that contains “1.4 million people without verified citizenship, nationality or satisfactory immigration status, which would no longer be covered in 2034 in state-financed programs”.
The Score is the latest analysis by the official congress scorekeeper about how the comprehensive tax and expenditure packaging, which the house approved last month has approved, will influence the federal budget in the coming years.
The Republicans have strongly criticized the assessment of the effects of legislation by the CBO and argue that the attitude of tax rates as they are now instead of increasing them at the end of the year when the GOP tax law is running in 2017 will raise economic growth.
Steve Scalisene, R-La., House majority leader Steve Scalisene, accelerated the CBO during a press conference shortly after the report was created and argued that his projections of economic growth were not entirely correct.
“This calculation will actually reduce the deficit if you recognize historical economic growth that has always been there,” said Scalisue. “To say that they will achieve growth of 1.8%. At least we believe that they can achieve 2.5 to 4% growth. Scott Bessent, the finance minister, says over 4% economic growth. I understand that we have to play according to the rules of the referee, but the referee was wrong.”
Over the past decade, US growth only exceeded 3%in one year after one year, so Data From the US office for economic analysis.
The gross domestic product growth dimensions 2014 2.5%, 2.9% in 2015, 1.8% in 2016, 2.5% in 2017, 3% in 2018, 2.6% in 2019, -2.2% in 2020 at the beginning of Coronavirus pandemic, 6.1% in 2021, 2.5% in 2023 and 2.8% in 2024.
The Budget Director of the White House, Russian on social media, that the CBO score “confirms what we knew about the invoice at House Passage”.
“The invoice reduces the deficits over ten years by 1.4 trillion dollars if you adapt to a big gimmick from CBO – not with a realistic current political baseline,” wrote Vought. “It contains 1.7 trillion dollars of mandatory savings, most in history. If you are interested in deficits and debts, this calculation dramatically improves the fiscal image.”
Disagreement about the “big beautiful bill”
The GOP legislators have also tried to criticize some of their own members, including Kentucky Senator Rand Paul and Wisconsin Senator Ron Johnson, both of whom argue that the legislation has to reduce expenses more in order to reduce the federal deficit in the long term.
The billionaire and the former Trump administration employee, Elon Musk, has also been increasingly about his opposition to the package. Writing on social media This week is the “massive, outrageous, pork -filled congress expenditure law a disgusting abomination”.
The house was mainly true after party lines In May, they send the Senate the package for comprehensive expenses and tax cuts, which will discuss legislation in the coming weeks.
The analysis of CBO will probably inform a part of this conversation and facilitate the senators to better understand how the changes in directives proposed by their house colleagues would influence the state government’s budget budgets and the communities they represent.
The previously shared CBO analysis of each of the 11 bills that make up the package, which, however, did not reflect Several changes GOP House leaders have made Only hours before the Floor vote In this chamber.
Updated numbers
The updated forecasts show that the Republicans’ plan to extend the 2017 tax law and carry out other tax pipes that would be deficit in the next decade by $ 3.754 trillion dollars. This raise in the deficit by tax changes, the CBO also found If the resources for families with low incomes were reduced in the next decade and at the same time increasing resources for top earners, the expenses of reducing reductions would be partially compensated for.
The legislative template of the armed forces committee would raise the deficits by $ 144 billion, more than the 100 billion dollars -upper limit -Republicans in The budget tendon This should set guardrails on the package. The provisions of Homeland Security would raise the deficits by $ 79 billion. The language of the Justice Committee would raise deficits by $ 9 billion during the 10-year budget window.
The section of the package, which would make significant changes to Medicaid and several other programs within the jurisdiction of the committee, would reduce the expenses during the 10-year budget window by $ 1.086 trillion.
The body’s invoice has four subcategories: energy, environment, communication and health. The health regulations, which include significant changes to Medicaid, would reduce the federal expenditure between 2025 and 2034 by 902 billion US dollars.
Language that Medicaid from the cover of gender transition procedures for people in each in The state health program would reduce the federal expenditure by 2.6 billion US dollars in the next decade.
If some people of Medicaid for work, participation in community service or participation in educational programs for at least 80 hours per month, federal expenses will be reduced by 344 billion US dollars over the next 10 years.
The blocking of MedicAID financing by filling Planned Parenthood would reduce the federal costs by $ 261 million during the 10-year budget window. The Federal Law already prohibits health programs such as Medicaid from abortions, unless pregnancy is the result of rape or incest, or it endangers the life of women.
Separate analysis CBO, which was later released on Wednesday, would project that 7.8 million people would lose access to Medicaid due to the directive changes defined in the House’s GOPM invoice. Another 2.3 million would lose access to health insurance due to tax insurance, and 1.3 million people could no longer be able to take out health insurance via the marketplace for affordable care laws.
CBO estimates that around 500,000 people are influenced by interactions between the various changes in health policy. This number that is deducted from the numbers of those who would lose access lead to a total of 10.9 million people who lose access to health insurance by 2034.
Democratic criticism
The ranking member Frank Pallone Jr., a Democrat from New Jersey, wrote in a statement that “shocking Republicans of the Republicans agree on this law without CBO about the millions of people who lose their health care, or the trillions of dollar who would raise it to the national to coordinate this law.
“The truth is that Republican leaders have driven to say goodbye to this law during the night because they did not want the American people or even their own members to learn about their catastrophic consequences.”
The provisions of the Agricultural Committee, including the illustration of some of the costs of the Supplemental Nutrition Assistance Program in the States, would reduce federal expenses by 238 billion dollars in the next decade.
The language of the educational and workforce committee would reduce the federal expenditure by 349 billion US dollars. The package’s financial services section would reduce the federal expenditure by $ 5 billion. The natural resources would reduce the expenditure of $ 18 billion. And transport and infrastructure would reduce expenses by almost 37 billion US dollars.
The law to reform the oversight and government reform would expenditure by 12 billion US The reconciliation instructions contained in the budget solution.
Ariana Figueroa contributed to this report.
