GOP tax bill could spur $25 billion in Medicare cuts: CBO
Source: The Hill
The GOP tax bill could trigger automatic cuts worth $136 billion from mandatory spending in 2018, including $25 billion in Medicare cuts, if Congress doesn’t find another way to offset its deficit increases, according to the Congressional Budget Office (CBO).
The tax bill will add an estimated $1.5 trillion to the deficit over a decade. Congressional “pay-as-you-go” rules, called pay-go, require that the White House Office of Management and Budget (OMB) automatically cut mandatory spending if legislation increases the deficit beyond a certain point.
“Without enacting subsequent legislation to either offset that deficit increase, waive the recordation of the bill’s impact on the scorecard, or otherwise mitigate or eliminate the requirements of the [pay-go] law, OMB would be required to issue a sequestration order within 15 days of the end of the session of Congress to reduce spending in fiscal year 2018 by the resultant total of $136 billion,” CBO wrote on Tuesday.
Read more: http://thehill.com/policy/finance/budget/360300-tax-bill-could-spur-25-billion-in-medicare-cuts-cbo
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What is remarkable is that if someone has socials security and is getting two thousand a month to live off that fund, they take out of the check each month between 109 and 155 dollars a month in Medicare, which leaves the individual with around 1900 to 1800 dollars to live off , that excludes pensions from defined benefits, or 401K's.
And every senior in the country that votes for the republicans, if they don't see what these jerks are trying to do, then maybe they should have there social security and medicare cut on an individual basis
