Sentences with phrase «federal deficit over»

The reduction, required by the failure of policymakers to abide by the terms of a 2011 law designed to reduce the federal deficit over the next decade, reduced the lab's budget this year by $ 100 million, to $ 1.5 billion.

Academic lobbyists have vociferously complained about sequestration, created under a 2011 law aimed at shrinking the federal deficit over the next decade.

The Congressional Budget Office says the American Health Care Act would reduce the federal deficit over the 2017 - 2026 period by $ 119 billion, but also leave 23 million Americans without insurance, while at the same time lower the average insurance premiums.

According to the nonpartisan Joint Committee on Taxation, the GOP bill is expected to add nearly $ 1.5 trillion to the federal deficit over the course of a decade.

The left - leaning Citizens for Tax Justice have asserted that the plan will cost $ 12 trillion to the U.S. economy over the next decade, and the more conservative Tax Foundation has suggested that the cuts will contribute $ 10 trillion to the federal deficit over the same period.

CBO and JCT estimate that enacting this legislation would reduce the cumulative federal deficit over the 2017 - 2026 period by $ 321 billion.

While Republican leaders and Trump administration officials promised as recently as three weeks ago that the bill would pay for itself with economic growth, the analyses have been universal: They have shown that the bill would add roughly $ 1 trillion or more to the federal deficit over 10 years, even when accounting for the growth.

The Republican tax bill would add $ 1 trillion to the federal deficit over the next decade, according to an analysis by the Joint Committee on Taxation.

Not exact matches

According to a new report from the Joint Committee on Taxation, the House GOP tax reform bill — the Tax Cuts and Jobs Act (TCJA)-- would increase the federal deficit by $ 1.487 trillion over the 10 years after it is implemented.

The Penn model found that the bill would increase the federal deficit by $ 1.327 trillion over the first 10 years after it becomes law (not including debt - service costs).

And there's a bruising fight with Congress over spending and the federal deficit on the horizon, just days after Obama and Congress averted the fiscal cliff with a last - minute deal over the New Year's holiday.

If various personal deductions were eliminated as the plan proposes, it could still leave a $ 2.2 trillion addition to the deficit over 10 years, according to the analysis from the Committee for a Responsible Federal Budget.

It changes numerous deductions and tax breaks and is expected to add $ 1 trillion or more to federal budget deficits over a decade, according to congressional estimates.

«Public - sector spending — a strong, steady contributor to the economy over the past decade — is now being curtailed as federal and provincial governments try to bring deficits under control,» the Conference Board of Canada noted in a recent forecast.

According to Congressional Budget Office estimates, enacting the bill would shrink the federal budget deficit by $ 175 billion by 2020, lift GDP by 5.4 % over the next 20 years, increase national productivity, balloon the workforce by about 5 % by 2033, raise the return on capital, and (although the CBO didn't put it this way) create a $ 46 billion windfall for entrepreneurs supplying security operations along the U.S. southern border.

And late last year, the Republican tax cut was enacted that will add more than $ 1 trillion to federal budget deficits over a decade.

Others, like Sens. Jeff Flake and Bob Corker, wavered over the amount by which the bill is expected to raise the federal budget deficit.

In a commentary in The Wall Street Journal this week, former vice president of the Federal Reserve Alan Blinder writes that Trump's tax cut plans — the largest of all the presidential candidates — would cost the nation $ 9.5 trillion over the next decade, which in turn would make the budget deficit balloon to ruinous effect.

Democrats call the Republican proposal a giveaway to corporations at the expense of the middle class, issuing dire warnings about the $ 1 trillion or more it is projected to add to federal budget deficits over a decade.

The Congress faces an array of policy choices as it confronts the challenges posed by the amount of federal debt held by the public — which has more than doubled relative to the size of the economy since 2007 — and the prospect of continued growth in that debt over the coming decades if the large annual budget deficits projected under current law come to pass.

CBO and JCT estimate that enacting the legislation would reduce federal deficits by $ 337 billion over the 2017 - 2026 period.

If current laws remained generally unchanged, the United States would face steadily increasing federal budget deficits and debt over the next 30 years — reaching the highest level of debt relative to GDP ever experienced in this country.

Under the Senate's «budget reconciliation» rules, the tax legislation can increase the federal deficit by $ 1.5 trillion over the next 10 years — and not a dollar more.

Even when announcing in November that the federal deficit would come in at $ 26 billion, $ 5 billion higher than predicted in the 2012 budget, the minister couldn't resist gloating: «Unlike many of Canada's counterparts in the G7, we remain on track to return to balanced budgets over the medium term.»

Second, the deficits posted over the 2008 - 09 to 2015 - 16 period will add about $ 200 billion to the federal government's debt, nearly doubling the reduction recorded over the 1997 - 98 to 2007 - 08 period ($ 104.7 billion).

(Tweet this) Depending on those economic considerations, the federal deficit could increase up to $ 353 billion over the...

The new federal budget plan matters and is increasing defense and nondefense spending to the tune of $ 300 billion, which would put the fiscal year 2019 deficit at over $ 1 trillion or 6 % of gross domestic product (GDP).

Canada's economy will not fully recover until 2013 and the federal government will carry a structural budgetary deficit of C$ 19 billion ($ 17.6 billion) after the crisis, a report by the parliamentary budget officer said on Monday... «PBO calculations continue to suggest that the budget is not structurally balanced over the medium term,» the report said.

Based on the reconciliation provided in the Public Accounts, we estimate that, over the period 2002 - 03 to 2011 - 12, the federal deficit / surplus turned out to be $ 24.2 billion better than originally forecast.

NO: Continued deficit spending by the federal government is not sustainable over the long run.

With the Liberal plan, the federal government will have a modest short - term deficit of less than $ 10 billion in each of the next two fiscal years — less than half the average Harper deficit of over $ 20 billion per year.

While reducing federal spending during an economic slowdown was not the President's preference, he recognized the political realities and undertook a series of negotiations with the Republican Speaker of the House, John Boehner, aimed at achieving a compromise plan to reduce the deficit over time through a combination of spending cuts and revenue increases.

The GOP bill including some changes would increase federal budget deficits by $ 1.7 trillion over 10 years, according to Joint Committee on Taxation estimates shared by the nonpartisan Congressional Budget Office.

Including interest, this bill will add $ 1.7 trillion to the federal debt over 10 years, and the Treasury will run a trillion - dollar deficit every year going forward.

The bottom line is that after the prolonged tax giveaway exacerbates the federal budget deficit — along with the balance - of - payments deficit — we can expect the next Republican or Democratic administration to step in and «save» the country from economic emergency by scaling back Social Security while turning its funding over, Pinochet - style, to Wall Street money managers to loot as they did in Chile.

-- Member of Parliament David Yurdiga «The federal government thinks that it is acceptable to run a $ 30 billion deficit and spending billions on foreign aid and international climate change projects, as well as on newcomer settlement programs all the while cutting over $ 100 million from the three northern territories over the course of the next five years.

Fiscal policy has become more expansionary over the past year, with the recent fiscal package contributing to an estimated federal budget deficit of just over 4 per cent of GDP this year, up from around 1 1/2 per cent in 2002.

The bill's price tag had been a sticking point for one senator, Mr. Corker, a longtime deficit hawk, who voted against the initial Senate bill over concerns it would add to the federal debt.

It also includes cuts to non-defense spending designed to lower the federal budget deficit by more than $ 3 trillion over the next decade.

The deal is expected to add around $ 320 billion to the deficit over a decade, according to estimates by the Committee for a Responsible Federal Budget.

Given the debate over the federal deficit, government spending on social services, such as Medicare and Social Security is under increased scrutiny, with many Republicans mounting an all - out assault.

Doheny does have an edge over Owens on the issues of the federal deficit and taxes, but Owens is ahead on jobs, health care, the war in Afghanistan and education.

That seems implied by your comment that the «state's tax climate also matters» and adding that the state faces a $ 4 billion deficit, plus additional lost revenue from federal changes to health care and tax policy, which is estimated to be over $ 2 billion.

The New York State Educational Conference Board, a coalition of state education organizations, is calling for a $ 2 billion increase in school aid in the 2018 - 19 state budget, despite a looming deficit and uncertainty over federal spending.

The Senate GOP's fast - moving effort to overhaul the tax code hit an unexpected roadblock last night, with the collapse of a plan to win over recalcitrant lawmakers with a promise to limit the impact of the legislation on the federal deficit.

New York State Comptroller Tom DiNapoli warns of a «problematic» budget season, as the state faces a structural deficit, changes to the federal tax code, and uncertainty over continued funding from Washington.

U.S. Senate Republicans, abandoning a key fiscal doctrine, agreed to move forward on a budget that would add to the federal deficit in order to pave the way for a $ 1.5 trillion tax cut over the next 10 years.

The state has a $ 4.4 billion dollar deficit, and there's uncertainty over the effects of the federal tax overhaul on the state's finances, as well as possible big funding cuts by President Trump and Congress.

New York (CNNMoney.com)- Congressional budget scorekeepers said that a grab - bag bill of spending and tax measures to be taken up this week would increase federal deficits by $ 134 billion over a decade.

Others say the Pentagon is simply using the hearings to pressure Congress into rolling back the Budget Control Act of 2011, the law that set federal spending caps in order to achieve a $ 1.2 trillion deficit reduction over 10 years.