Repealing Obamacare would increase the gross domestic product by 0.7 percent—equivalent to an additional $1,400 in the pocket of each household per year.
More Honest Accounting Shows That Repealing Obamacare Is Good for the Economy
By Heritage Foundation Paul Winfree——Bio and Archives--June 22, 2015
The fiscal year 2016 budget resolution passed by Congress in May requires the Congressional Budget Office and the Joint Committee on Taxation to include the macroeconomic feedback effects of changes in policy on the budget when evaluating major legislation (CBO and JCT are the official number crunchers of Congress).
Specifically, Section 3112 of the resolution requires CBO and JCT to “incorporate the budgetary effects of changes in economic output, employment, capital stock, and other macroeconomic variables resulting from such major legislation.”
Put another way, when Congress considers a bill that cuts taxes or removes work disincentives, CBO and JCT are now required to estimate the budgetary effects of those policies resulting from changes in the economy or employment.
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