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CBO grades American Health Care Act

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The Congressional Budget Office (CBO) gives its “score” to the American Health Care Act (AHCA). The CBO issued a report projecting the proposed law would reduce federal deficits by $337 billion from 2017-2026. The largest savings would come from reduced Medicaid outlays and eliminating the Affordable Care Act (ACA) subsidies for nongroup health insurance. Savings would be offset by a new tax credit and repealing many ACA taxes and penalties. In 2018, the CBO estimated 14 million more people would be uninsured under the bill, increasing to 24 million in 2026.

The Congressional Budget Office (CBO) looks at corporate income taxes

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The top federal statutory corporate income tax rate in the U.S. is 35%. With state taxes, the top rate averages 39.1%. President Trump and House Republicans have vowed to reduce the top corporate tax to 15%-20%. The CBO studied corporate rates in 2012 and found the U.S. had the highest rate among G20 countries. It released an updated report showing that some countries have lowered rates since then. For example, Japan’s top 2015 statutory corporate tax rate was 32.1%, 5% lower than in 2012

A March madness score that doesn’t involve college basketball.

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This week, the Congressional Budget Office (CBO) is expected to “score” the proposed bill that U.S. House representatives have released to replace the Affordable Care Act. The CBO score will calculate the cost of the American Health Care Act, as well as how many Americans would lose health coverage under it. According to its website, each year the CBO “provides the Congress with several hundred formal cost estimates that analyze the likely effects of proposed legislation on the federal budget.”