Committee for a Responsible Federal Budget

Media Coverage

Jan 9, 2017|Boulder Daily Camera

Editorial: Interest rates and the debt

Interest costs — arguably our least productive spending — promise to become the fastest-growing item in the budget. That's if deficits remain on the trajectory established by existing policies. In reality, though, they are likely to get even bigger, as a result of Donald Trump's expensive agenda.

The bipartisan Committee for a Responsible Federal Budget estimates that the spending increases and tax cuts he wants would fatten total deficits by $5.2 trillion by 2026. "That would lead directly to an $800 billion increase in interest costs over a decade, including over $150 billion in (fiscal year) 2026 alone," it predicts.

Jan 9, 2017|Philadelphia Inquirer

Jackson: Smearing president's legacy part of effort to kill Obamacare

The nonpartisan, nonprofit Committee for a Responsible Federal Budget says repealing the tax increases included in Obamacare – including the Medicare payroll surtax on wages above $200,000 – would cost an additional $800 billion, and repealing Medicare provider and related cuts in the ACA would cost $1.10 trillion. The committee further noted that a reduction in health care costs now being attributed to Obamacare would be reversed if it becomes invalid.

Jan 9, 2017|The Australian Business Review

The problem with Trumponomics

The Committee for a Responsible Federal Budget, a nonpartisan think tank, predicts that Mr Trump’s economic plans will increase government debt by $US5.3 trillion in the next decade.

Jan 8, 2017|The Daily Kos

The Republicans’ trillion-dollar Obamacare repeal scam

Using data and forecasts from CBO, the Committee for a Responsible Federal Budget (CFRB) this week provided a helpful summary of the math behind various scenarios for the repeal of Obamacare. While eliminating its coverage provisions saves $1.55 trillion over 10 years, the fate of the ACA's funding is more complicated:

Jan 8, 2017|The Albany Times Union

Replace ACA with what?

The bipartisan Committee for a Responsible Federal Budget projects that repeal would cost the government between $150 billion and $350 billion through 2027 in lost revenue and savings. It would hasten the insolvency of Medicare's Part A from 2026 to 2021.

Jan 8, 2017|Forbes

Here's The Evidence Republicans Are Already Increasing The Deficit ... Big Time

Second, after insisting that tax reform will have no negative impact on the budget, House Republicans last week began to plan for a change in the way tax cuts are scored so that they appear to be “revenue neutral” even though the deficit will increase. As this blog post from the Committee for a Responsible Federal Budget explains, this change “…would allow a reconciliation bill for tax reform to reduce revenues by more than $400 billion below current law – and increase the deficit by approximately $480 billion above current law with interest – but still comply with reconciliation instructions requiring the bill to nominally reduce the deficit.”

Jan 8, 2017|Newsmax Finance

4 Reasons the Trump Rally Has No Legs

For example, earlier this year, the Republican-majority House passed a budget blueprint calling for deficit reductions of $7 trillion over the next 10 years—primarily through spending cuts.

Against that blueprint, we have Trump’s proposed policy changes. The Committee for a Responsible Federal Budget, a nonpartisan think tank, estimates those changes, in particular tax cuts, could increase the deficit by $5.3 trillion over the next decade.

Jan 8, 2017|The Times-News

Editorial: Congress must act to reduce the debt

The bipartisan Committee for a Responsible Federal Budget estimates that the spending increases and tax cuts he wants would fatten total deficits by $5.2 trillion by 2026. "That would lead directly to an $800 billion increase in interest costs over a decade, including over $150 billion in (fiscal year) 2026 alone," it predicts.

Jan 8, 2017|Hampton Patch

Rubens: GOP Budget Capitulation: $9 Trillion More Debt

Congressional Republicans are highly likely this week to vote for a budget resolution which would increase federal public debt to over $29 trillion over the coming 10 years, an increase of $9 trillion. Republican leaders defend this resolution as a necessary step to repealing (and later replacing) Obamacare and these budget numbers as merely symbolic.

But the Committee for a Responsible Federal Budget explains in its 1/3 post that this resolution permits that almost every penny of the tax and revenue reductions resulting from Obamacare repeal may be reversed and spent via a Republican Obamacare replacement program.

Jan 7, 2017|CCTV English

Nobel laureates warn Trump's economic policies could lead to deep recession

According to the Committee for a Responsible Federal Budget, a non-partisan think tank, on the day Trump takes office, debt held by the public will be at a post-World War II era record high of 77 percent of gross domestic product, and it is projected to almost double by 2050.

The deficit, which stands at nearly 600 billion U.S. dollars, will grow to 800 billion dollars in the final fiscal year of Trump's first term and exceed 1 trillion dollars by the end of a hypothetical second term, the committee said.

Jan 7, 2017|The Wall Street Journal

Obamacare Taxes Complicate GOP’s Repeal Strategy

While repealing the health law’s coverage provisions would save the government some money because it would no longer have to defray many people’s health-care costs, a full repeal of the law would cost roughly $350 billion through 2027, according to an estimate released this past week from the Committee for a Responsible Federal Budget, an anti-deficit group. The health law offset its costs both by raising revenue through taxes and finding savings in the Medicare program.

Jan 6, 2017|CNN

Republican speaks out on Obamacare's value

This CNN piece from Dr. Sanjay Gupta includes our new analysis of the costs of Obamacare repeal.

Jan 6, 2017|McClatchey DC

What are conservatives doing voting to increase debt by $9 trillion?

To nonpartisan budget-watchers, such logic is ridiculous.

It was, they said, fresh evidence of why the debt keeps growing. The public hardly understands the complex budget process, they said, and see lawmakers making promises and then putting off the harder stuff.

“Nobody’s going to understand any of this,” said Maya MacGuineas, president of the Committee for a Responsible Federal Budget, a Washington watchdog group, of the conservatives’ reasoning.

What the public understands, she said, is that in their daily lives, they look at their budget first and then decide what to buy.

“No company, no consumer should make large decisions without putting a budget in place first,” she said.

Jan 6, 2017|Bloomberg Politics

GOP Splits on Need to Scrap Obamacare Taxes in Swift Repeal

An analysis by the Committee for a Responsible Federal Budget puts the loss of revenue from repealing the [healthcare] law’s taxes at $800 billion over 10 years. It says about half of that would come from removing the 0.9 percent Medicare payroll surtax on wages above $200,000 ($150 billion) and the 3.8 percent surtax on investment income above the same threshold ($250 billion). Another quarter of the revenue loss would stem from repealing various fees on insurance companies, medical device companies, and drug manufacturers.

Jan 6, 2017|Forbes

Questions On Medicare For Dr. Tom Price, Our Next Health Secretary

However, Obamacare’s cuts to Medicare Advantage phase in fully this year. That means repealing Obamacare reverses future cuts and adds to federal spending. According to a new report by the Committee for a Responsible Federal Budget, the amount would be $400 billion or $450 billion over ten years, a significant factor in the report’s conclusion that repealing Obamacare would increase the deficit.

Jan 6, 2017|The Chicago Tribune

Editorial: Now, the hangover: Rising interest costs will give taxpayers many headaches

The bipartisan Committee for a Responsible Federal Budget estimates that the spending increases and tax cuts he wants would fatten total deficits by $5.2 trillion by 2026. "That would lead directly to an $800 billion increase in interest costs over a decade, including over $150 billion in (fiscal year) 2026 alone," it predicts.

Jan 6, 2017|Morning Consult

Critics Call Bishop’s Land-Transfer Measure an Accounting ‘Gimmick’

First, lawmakers wouldn’t be required to offset the cost by cutting other spending, under the House’s “pay as you go” budget requirements. Second, no other members would be able to block the bill using a budgetary point of order. The latter, Bishop said, is used by opponents of land-transfer bills to block the legislation because of their policy objections, rather than actual budget concerns.

Still, Bishop’s provision is an unprecedented “gimmick,” said Ed Lorenzen, a senior adviser for the Committee for a Responsible Federal Budget who previously was a policy adviser for Democratic House members. 

“This rule is saying there’s no way to pay for it, it’s too difficult, so they’ll just change rules by pretending they don’t have a cost even though they clearly do,” Lorenzen told Morning Consult in a phone interview on Thursday. 

Jan 6, 2017|CNN

Republican speaks out on Obamacare's value

No description is available.

Jan 6, 2017|Salon

Donald Trump, Republicans now plan to charge taxpayers for the Mexico wall but plan to reclaim the money later

The border wall plan comes on top of the proposed repeal of the Affordable Care Act, which the Committee for a Responsible Federal Budget estimated would cost up to $350 billion through 2017.

Jan 5, 2017|Modern Health

GOP governors face uphill battle to spare Medicaid expansion from repeal

The bipartisan think tank Committee for a Responsible Federal Budget has estimated that ending Medicaid expansion would save the government $1.1 trillion by 2027, though it would leave millions of Americans uninsured and increase hospitals' uncompensated-care costs.

Jan 5, 2017|Healthcare Dive

ACA Round-Up: Fault lines show as ACA battle wages on

According to the Committee for a Responsible Federal Budget, repealing the ACA in its entirety would be expensive (roughly $350 billion though 2027), leaving no money available to enact a replacement and actually adding to federal debt. Savings associated with a partial repeal of the ACA, which is more realistic, vary widely according to which provisions of the complex law are removed.

Jan 5, 2017|BenefitsPro

ACA repeal would put budget in the red by $350 billion

It may be Republicans’ first order of business in 2017, but repealing the Affordable Care Act will boost the country’s budget deficit by $350 billion over 10 years.

That’s according to a new study from the Committee for a Responsible Federal Budget (CRFB). The Hill reports in its analysis the CRFB found that although repealing the law’s spending on providing coverage would save $1.55 trillion, the savings would be more than negated by repealing $800 billion in tax increases and $1.1 trillion in Medicare and other cuts.

Jan 5, 2017|Alamogordo Daily News

New in 2017: Trump's first military budget will reveal what's in store for the next 4 years

Over President Obama's objections, Congress in December passed legislation that funds the addition of 23,000 troops across the Army, Air Force and Marine Corps. By some estimates, Trump's long-term plans could see the active-duty force grow by almost another 140,000 personnel. 

Some observers have called such plans prohibitively expensive. The National Taxpayers Union Foundation, for instance, estimates — at minimum — those plans will require an annual defense spending boost of 3 percent. The Committee for a Responsible Federal Budget has pegged the cost at an additional $150 billion in coming years. 

Jan 5, 2017|Bloomberg BNA

Hill Briefs: W&M Names Members; Dems Pick Chief of Staff

Repealing taxes tied to the Affordable Care Act would cost $800 billion, according to an estimate from the Committee for a Responsible Federal Budget.

Jan 5, 2017|Politifact

What would the impact be if the Affordable Care Act is repealed?

This year, the Urban Institute and the Robert Wood Johnson Foundation published a report projecting that 24 million additional people by 2021 would have lost coverage or be unable to find it. The Committee for a Responsible Federal Budget, a group that seeks to lower the federal deficit, projected that the number would be 23 million.

Jan 5, 2017|Investor's Business Daily

Another ObamaCare Promise Bites The Dust

A report from the centrist Committee for a Responsible Federal Budget says that, left in place, ObamaCare would reduce the deficit by between $350 billion and $150 billion over the next 10 years, depending on whether or not you account for the economic harm caused by the law.

Jan 5, 2017|Forbes

How The Soaring U.S. Debt May Save Obamacare

Getting rid of Obamacare will add more to the debt and deficits. A new report from the bipartisan Committee for a Responsible Federal Budget says that “repealing the ACA in its entirety would cost roughly $350 billion through 2027.”

Jan 5, 2017|CNBC

Maya MacGuineas on CNBC: Full repeal of Obamacare to cost $350B

“Health care reform and tax reform are likely going to be the initial priorities for the coming months…we really have to look at the bottom line of how they’ll affect the fiscal situation, the economic situation, and the well-being of American households.” --- Maya MacGuineas. 
 

Jan 5, 2017|Zacks Investment Research

Is Obamacare on its Way Out?

Right now there is not much clarity on how Obamacare will be replaced. Repealing the act without any replacement would leave about 20 million Americans at risk where their coverage is concerned. Moreover, according to a report issued by the Committee for a Responsible Federal Budget, repealing Obamacare in its entirety would involve costs of about $350 billion over the next ten years under conventional scoring and $150 billion using dynamic scoring.

Jan 4, 2017|KTHV

Healthcare fight begins as Democrats claim GOP wants to 'Make America Sick Again'

A full repeal of Obamacare would cost $350 billion over the next decade, according to a new analysis from the bipartisan Committee for a Responsible Federal Budget. 

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