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1 Summary of the Deficit Effects of a Bill to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018 1 (2017)

handle is hein.congrec/sudefcon3966 and id is 1 raw text is: PRELIMINARY: 8:49PM, December 1, 2017 SUMMARY OF THE DEFICIT EFFECTS OF 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 SENATE ON DECEMBER 1, 2017, AND PROVIDED BY STAFF Billions of Dollars, by Fiscal Year 2018- 2018- 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2022 2027 Deficit Effect of Title I 31.6 219.7 246.8 217.8 201.2 183.2 164.4 155.9 59.4 -33.9 917.8 1,447.8 Deficit Effect of Title H 0.0 0.0 0.0 0.2 -0.5 * * -0.3 -0.2 -0.2 -0.3 -1.1 Total Deficit Effect 31.6 219.7 246.8 218.0 200.7 183.2 164.4 155.6 59.2 -34.1 917.5 1,446.7 On-Budget 31.3 219.2 247.2 219.7 203.2 187.9 170.2 160.9 63.2 -30.6 921.1 1,473.6 Off-Budget 0.3 0.5 -0.4 -1.7 -2.5 -4.7 -5.8 -5.3 -4.0 -3.5 -3.6 -26.9 Sources: Staff of the Joint Committee on Taxation (JCT); Congressional Budget Office. Components may not add to totals due to rounding; * = reduction of less than $500,000. JCT and CBO estimate that enacting the legislation would not increase on-budget deficits by more than $5 billion in any of the four consecutive 10-year periods beginning in 2028. Positive signs for deficit effects indicate an increase in the deficit. Off-budget effects result from changes in Social Security payroll tax receipts. The Congressional Budget Act of 1974, as amended, stipulates that revenue estimates provided by the staff of the Joint Committee on Taxation will be the official estimates for all tax legislation considered by the Congress. As such, CBO incorporates those estimates into its cost estimates of the effects of legislation. Virtually all of the estimates for the provisions of Title I of this legislation were provided by JCT.

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