Sentences with phrase «increase federal deficits»

The Congressional Budget Office estimated late Friday that the revised measure would increase federal deficits by $ 1.455 trillion over 10 years, a projection that's slightly higher than for the version Corker opposed previously.

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.

Under current law, the individual mandate and its associated penalties increase federal deficits by encouraging people to obtain subsidized coverage — through Medicaid, the health insurance marketplaces established under the ACA, or employment - based plans (which receive indirect subsidies to the extent that premiums for that coverage are excluded from taxable compensation).

And all of them argue that the proposed tax cuts, estimated to reduce federal revenue by more than $ 1.4 trillion, won't increase federal deficits, an assertion that's been contradicted by Congress's official tax scorekeeper.

Office of Management and Budget Director Mick Mulvaney argued earlier this week on CNN's «State of the Union» that increasing the federal deficit is necessary to unlocked the desired economic growth the Trump administration has targeted.

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).

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.

The recently passed tax cuts could increase the Federal deficit by around $ 200 billion this year, adding to the supply of bonds.

The provision can not increase the federal deficit at some point in the future, beyond the typical 10 - year «budget window» that is used to evaluate legislation.

In remarks at the White House, Obama rejected arguments by Republican opponents of the bill that it will increase the federal deficit.

Republicans and Democrats have entirely different approaches to the issue, with Republicans willing to slash taxes even at the risk of increasing the federal deficit, and Democrats such as Higgins insisting that tax reform not reduce the amount of money collected by the federal government

However, he supports the tax reform bills before Congress which will increase the federal deficit by $ 1,500,000,000,000, and probably more, over the next decade.

Brown also criticized the bill for increasing the federal deficit by $ 1.5 trillion over the next decade, a measure Cuomo said was part of a calculated Republican strategy.

Such programs have increased the federal deficit.

Not exact matches

According to the Joint Committee on Taxation, the TCJA would add roughly $ 1 trillion to the federal deficit even when factoring in increased economic growth from the bill.

In the Vietnam War era the government's rapid increase of the federal deficit began the inflation cycle that peaked in the late»70s.

For starters, Prime Minister Stephen Harper has promised to fight the federal deficit, expected to reach $ 56 billion by fiscal year - end, with «fiscal discipline» instead of tax increases.

Fink said a corporate rate as high as 27 percent could satisfy U.S. businesses» need for tax relief, while avoiding an increase in the federal deficit.

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.

Eliminating the state and local tax deduction would raise about one - quarter of the $ 4 trillion in revenues that some Republicans say they need to prevent tax cuts from creating a massive increase in the federal budget deficit.

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.

The Parliamentary Budget Office (PBO), international organizations and we have argued that the federal government is facing a small structural deficit now but that it will increase rapidly after 2015 due to demographic pressures on potential economic growth and health related spending.

However, even when the federal government ran surpluses in the late 1990s, our current account deficit continued to increase.

If the bill does not meet the budget resolution's instructions to reduce the federal deficit, any provision that results in either increased spending or decreased revenue is removed until it does meet those targets.

(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).

Under the Harper government, there have been eight years of deficit and the federal debt has been increased by $ 157 billion.

They argue that, since 2009, the federal government's plans to balance the budget have been based on «risky projections, optimistic forecasts of revenue growth and unrealistic plans for spending restraint», which have resulted in increases in the projected deficit with each successive budget, and the pushing out of the date that the deficit would be eliminated.

To eliminate the deficit by 2015 - 16, the CCPA assumes that the net impact of these measures will result in higher economic growth and increased employment, resulting in increased revenues to the federal government of about $ 4.5 billion, on average, per year.

Such a measure would result in an unstable fiscal situation — a situation in which the federal government would incur ongoing deficits and an increase in the debt - to - GDP ratio.

A one - percentage point cut in the GST / HST would cost the federal treasury up to $ 7 billion per year, thereby further increasing the deficit.

Rising rates also will increase debt costs to the federal government, which continues to rack up deficits and borrowing with reckless abandon.

The federal government's fiscal position would no longer be sustainable — it would be running a structural deficit which could only be eliminated through program cuts and / or revenue increases.

For the first six months of fiscal year 2013 - 14, the federal government posted a deficit of $ 10.7 billion, an increase of $ 1.3 billion from that reported in the same period in 2012 - 13.

For the first seven months (April to October) of the fiscal year 2013 - 14, the federal government posted a deficit of $ 13.2 billion, an increase of $ 1.3 billion from that reported in the same period in 2012 - 13.

The federal government is not confronted with a short - term fiscal crisis but it is facing a stubborn medium - term structural deficit that will prevent you from balancing the budget by 2015 - 16, without new expenditure cuts and / or tax increases.

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.

The Treasury Department said in its most recent quarterly refunding announcement in November that borrowing needs will increase as the Federal Reserve reduces its balance sheet and as fiscal deficits look set to widen.

However, the Liberal platform also envisaged temporary deficits to finance higher spending on social programs such as child benefits, a higher Guaranteed Income Supplement for single seniors, public health care, child care and First Nations programs, and did not increase overall federal tax revenues.

According to the new report by Mr. Morneau, the federal deficit will increase to $ 25.0 billion in 2025 - 26 and then reach $ 38.8 billion in 2035 - 36 before beginning to decline.

Yet Republican deficit hawks are balking at an increase in federal spending after the recent passage of the tax reform plan and 2019 fiscal year budget.

If the deficit is finally eliminated in 2015 - 16, it will have taken eight years since the 2009 - 10 recession and resulted in an increase of $ 175 billion in federal government debt.

As the budget deficits of the federal, state and local governments increase, the possibility of taxing church property also rises — despite the long history of tax exemption.

They said the plan could move forward without increasing the deficit by rolling back recent federal tax breaks to the country's wealthiest people and corporations.

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.

That is the largest of any state's deficit, based largely on federal income tax collections from New York increasing during that time.

As to threats from the administration of President Donald Trump, de Blasio said Trump's tax law favors wealthy individuals and that it increases the federal budget deficit.

Democrats, meanwhile, have said they might support tax increases, in some cases, to close the deficit and deal with potentially billions more in cuts from the federal government.