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1 1 (2019)

handle is hein.congrec/cboecomy0001 and id is 1 raw text is: Congressional Budget Office ' Cost Estimate July 9, 2019 By Fiscal Year, Millions of Dollars 2019 2019-2024 2019-2029 Direct Spending (Outlays) Revenues Deficit Effect 0 -637 637 94,161 -27,495 121,656 102,138 -29,136 131,274 The bill would * Increase the Earned Income Tax Credit (EITC) for workers without qualifying children; expand eligibility for the EITC; increase the amount of the child tax credit for young children; allow the full amount of the child tax credit to be refunded; and make payments to U.S. possessions for their costs related to the EITC and child tax credit * Increase tax benefits for taxpayers with child and dependent care expenses * Exclude expenses for certain fringe benefits from unrelated business taxable income Estimated budgetary effects would primarily stem from * An increase in the child tax credit for young children and allowing the full amount of the credit to be refunded * An expansion of the EITC for workers without qualifying children * An expansion of the child and dependent care credit The Congressional Budget Act of 1974, as amended, stipulates that revenue estimates provided by the staff of the Joint Committee on Taxation (JCT) are the official estimates for all tax legislation considered by the Congress. CBO therefore incorporates such estimates into its cost estimates of the effects of legislation. All of the estimates for the provisions of H.R. 3300 were provided by JCT. Detailed estimate begins on the next page. See also CBO's Cost Estimates Explained, www.cbo.gov/publication/54437; How CBO Prepares Cost Estimates, www.cbo.gov/publication/53519; and Glossary, www.cbo.gov/publication/42904.

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