Posted on 21 Feb 2011
The Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT) estimate that enacting H.R. 2, legislation to repeal the U.S. health care law, would cause a net increase in federal budget deficits of $210 billion over the 2012-2021 period.
By comparison, last March CBO and JCT estimated that enacting PPACA and the health-related provisions of the Reconciliation Act would reduce federal deficits by $124 billion over the 2010-2019 period. The difference between the two estimates for the 10-year projection periods is primarily attributable to the different time periods they cover.
Over the eight years that are common to the two analyses (2012-2019), enactment of PPACA and the health-related provisions of the Reconciliation Act was projected last March to reduce federal deficits by $132 billion, whereas the repeal of that legislation is projected now to increase deficits by $119 billion.
Those projections do not include any potential savings in discretionary spending, which is governed by annual appropriation acts. By CBO’s estimates, repeal of the health care legislation would probably reduce the appropriations needed by the Internal Revenue Service by between $5 billion and $10 billion over 10 years. Similar savings would accrue to the Department of Health and Human Services.