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Response to Request for Long-Term Analysis of Proposed Policies 1 (March 11, 2013)

handle is hein.congrec/cbo11005 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE Douglas W. Elmendorf, Director U.S. Congress Washington, DC 20515 March 11, 2013 Honorable Paul Ryan Chairman Committee on the Budget U.S. House of Representatives Washington DC 20515 Dear Mr. Chairman: This letter responds to your request that the Congressional Budget Office analyze the long-term budgetary impact of certain proposed policies governing federal revenues and spending. Unfortunately, we cannot conduct such an analysis at this time because we have not produced new long-term budgetary projections under current law since significant changes in law were enacted in early January. Last year at this time, we were able to prepare a preliminary update of our previous long-term projections that incorporated changes in law (and in the agency's economic forecast and technical estimating procedures) that had taken place after we produced those projections. Such an update was possible because those later changes were fairly small; but that approach is not feasible this year because the recent changes in law (in particular, in the provisions of the individual income tax) were quite large. We plan to produce updated long-term budgetary projections under current law later this year in a new Long-Term Budget Outlook. Sincerely, Douglas W. Elmendorf cc: Honorable Chris Van Hollen Ranking Member www.cbo.gov

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