Articles Tagged with 2017 Tax Act

The Congressional Budget Office (CBO)* analyzed the effects of alternative budget scenarios in which provisions of the 2017 tax act were extended and the average interest rate on federal debt increased.

Summary:

This letter responds to a request for an analysis of projected deficits and debt under alternative scenarios for the budget and interest rates. Specifically, Congressman Schweikert asked how CBO’s baseline projections of deficits and debt—which reflect the scheduled expiration of certain provisions of the 2017 tax act (Public Law 115-97) under current law—would change if all provisions of that act were extended permanently. Congressman Schweikert also asked how the projections would change further if interest rates were higher than expected.