Who determined that the law will reduce the federal budget deficit?
The nonpartisan Congressional Budget Office (CBO) determined that the law will reduce the federal budget deficit by $143 billion over the next 10 years and by $1.2 trillion in the following decade. CBO’s job is to provide the Congress with objective, nonpartisan, and timely analysis of every bill and amendment. CBO is like Congress’s umpire; its job is to call the balls and strikes: • CBO employees are beholden to no one – not the President, not the Speaker or Majority Leader, not the Democratic or the Republican Parties. CBO is an independent office staffed by nonpartisan professionals. • They decide how much every bill or amendment will cost, based on the best information available. • Whether we agree with them or not, Congress uses them as the final judge of the cost of every bill. • How are we paying for the tax credits and other new programs in this law? Roughly half of the cost of the law is paid for by targeting waste, fraud, and inefficiency in Medicare and Medicaid. • The law
