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H.R. 3762, Restoring Americans' Healthcare Freedom Reconciliation Act of 2015 1 (October 20, 2015)

handle is hein.congrec/cbo2580 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE October 20, 2015 H.R. 3762 Restoring Americans' Healthcare Freedom Reconciliation Act of 2015 As reported by the House Committee on the Budget on October 16, 2015 SUMMARY S. Con. Res. 11, the Concurrent Resolution on the Budget for Fiscal Year 2016, instructed several committees of the House of Representatives to recommend legislative changes that would reduce deficits over the 2016-2025 period. This bill reflects the combined recommendations of the House Committees on Energy and Commerce, Education and the Workforce, and Ways and Means. CBO and the staff of the Joint Committee on Taxation (JCT) estimate that enacting H.R. 3762 would decrease deficits by about $130 billion over the 2016-2025 period. That estimate includes two components. First, excluding macroeconomic feedback effects, the legislation would reduce deficits by about $79 billion. In addition, the macroeconomic feedback would reduce deficits by an additional $51 billion, CBO and JCT estimate. Those effects would result from changes to both direct spending and revenues. The 2016-2025 total consists of $77 billion in on-budget savings and $53 billion in off-budget savings. The largest budgetary effects of enacting the legislation would stem from: * Repealing provisions of the Affordable Care Act (ACA) that require most people to obtain health insurance coverage and large employers to offer their employees health insurance coverage that meets specified standards or pay penalties; and * Repealing the federal excise taxes imposed on the sale of medical devices and on certain employer-provided health coverage with premiums above specified amounts. 1. Because of the magnitude of its budgetary effects, this bill is major legislation, as defined in section 3112 of S. Con. Res. 11. Hence, the cost estimate prepared by CBO and JCT incorporates the federal budgetary effects of changes in economic output and other macroeconomic variables that would result from enacting the legislation.

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