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1 1 (January 2, 2018)

handle is hein.congrec/estdefbt0001 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE Keith Hall, Director U.S. Congress Washington, DC 20515 January 2, 2018 Honorable Ron Wyden Ranking Member Committee on Finance United States Senate Washington, DC 20510 Re: Estimated Deficits and Debt Under the Conference Agreement of H.R. 1, a Bill to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018, as filed by the Conferees to H.R. 1 on December 15, 2017 Dear Senator: This letter responds to your request for information about the estimated deficits and debt under the Conference Agreement of H.R. 1 as filed by the Conferees on December 15, 2017. The Congressional Budget Office and the staff of the Joint Committee on Taxation determined that provisions in the Conference Agreement would increase deficits over the 2018-2027 period by $1.5 trillion (not including any macroeconomic effects). By CBO's estimate, additional debt service would boost the 10-year increase in deficits to $1.8 trillion. As a result of those higher deficits, debt held by the public would increase from the 91.2 percent of gross domestic product in CBO's June 2017 baseline to 97.5 percent. If you wish further details on this estimate, we will be pleased to provide them. Sincerely, Keith Hall Enclosure cc: Honorable Orrin G. Hatch Chairman

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