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Treasury: American Taxpayer Relief Act Reduces Deficits by $737 Billion
Editorial Note: This post was originally published on the Office of Management and Budget blog . [Yesterday], the Congressional Budget Office (CBO) released its score of H.R. 8, the "American Taxpayer Relief Act of 2012." By convention, the score measured the effects of this legislation relative to "current law," which assumes the expiration of all of the 2001/2003 tax cuts, cuts to Medicare physicians of almost 27 percent, and allowing the across the board cuts from sequestration to take effect. But that does not provide a realistic perspective on the impact of H.R. 8. The relevant point of comparison isn't current law, it is "current policy" those policies that were in place on December 31 st , the day before all of these changes were scheduled to take
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Treasury: American Taxpayer Relief Act Reduces Deficits by $737 Billion
Editorial Note: This post was originally published on the Office of Management and Budget blog . [Yesterday], the Congressional Budget Office (CBO) released its score of H.R. 8, the "American Taxpayer Relief Act of 2012." By convention, the score measured the effects of this legislation relative to "current law," which assumes the expiration of all of the 2001/2003 tax cuts, cuts to Medicare physicians of almost 27 percent, and allowing the across the board cuts from sequestration to take effect. But that does not provide a realistic perspective on the impact of H.R. 8. The relevant point of comparison isn't current law, it is "current policy" those policies that were in place on December 31 st , the day before all of these changes were scheduled to take
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.