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S. 40, American Liberty Restoration Act 1 (March 21, 2014)

handle is hein.congrec/cbo1556 and id is 1 raw text is: Estimate of the Budgetary Effects of S. 40, the American Liberty Restoration Act, as introduced on January 22, 2013 (Billions of dollars, by fiscal year) March 21, 2014 2014 - 2014 - 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2019 2024 Changes in Direct Spending (Outlays) -4.6 -24.4 -38.2 -41.2 -43.0 -45.4 -48.3 -51.2 -53.8 -57.3 -61.1 -196.7 -468.5 Changes in Revenues 1.0 5.0 5.9 0.1 -1.7 -2.3 -2.1 -1.8 -1.7 -2.6 -3.6 8.0 -3.8 On-budget 0.5 2.3 3.4 -1.0 -2.2 -2.9 -2.8 -2.7 -2.7 -3.2 -4.1 0.2 -15.2 Off-budget 0.5 2.7 2.5 1.1 0.5 0.6 0.7 0.8 1.0 0.6 0.5 7.8 11.4 Net Changes in Deficitsa -5.5 -29.4 -44.0 -41.3 -41.4 -43.1 -46.2 -49.4 -52.0 -54.7 -57.5 -204.7 -464.6 On-budget -5.1 -26.7 -41.6 -40.2 -40.8 -42.6 -45.5 -48.6 -51.0 -54.1 -57.0 -197.0 -453.2 Off-budget -0.5 -2.7 -2.5 -1.1 -0.5 -0.6 -0.7 -0.8 -1.0 -0.6 -0.5 -7.8 -11.4 Sources: Congressional Budget Office; staff of the Joint Committee on Taxation (JCT). Notes: Components may not sum to totals because of rounding. Estimate assumes enactment near the end of March 2014 and are relative to CBO's February 2014 baseline, S. 40 would eliminate the requirement that individuals purchase health insurance and penalties associated with not complying with that requirement. Most of the reductions in spending would occur because outlays would be $163 billion less for exchange subsidies and $301 billion less for Medicaid and the Children's Health Insurance program than under current law CBO and JCT estimate that enacting S. 40 would increase the number of people without health insurance coverage in 2018- relative to current-law projections-by about 15 million people, resulting in 45 million uninsured in that year. That increase in the uninsured population would consist of roughly 6 million fewer individuals with coverage under Medicaid or the Children's Health Insurance Program, 1 million fewer individuals with employment-based coverage, and 8 million fewer individuals with coverage obtained in the individual market (including individual policies purchased in the exchanges or directly from insurers in the nongroup market). Similar changes in coverage would occur in most other years. CBO and JCT estimate that premiums for policies in the individual market would increase by 10 percent to 20 percent relative to current law in most years between 2015 and 2024. a. Negative numbers indicate a decrease in the deficit.

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