The Congressional Budget Office Gives Its Blessing to the Senate Finance Committee's Bill
The Congressional Budget Office rendered its verdict (pdf) on the Senate Finance Committee's bill this afternoon. In effect, the agency said the Senate Finance Committee can pass go, and can collect $200. The legislation is projected to cost $829 billion over 10 years, reduce the deficit by $81 billion and cover 94 percent of Americans. It also expects the deficit-reduction to accelerate in the second decade, cutting the total deficit by one-quarter to one-half percent of GDP.
That's about as good as the Finance Committee could've hoped for, and it means the legislation is likely to sail through committee next week. More as I read through the full score.
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