New Budget Deficit

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New Budget Deficit

Category : Blog , sccm


Report: Budget deficit is expected to soar. A new Congressional Budget Office report says the deficit will rise sharply over the next few years, mainly because of deep tax cuts in the Tax Cuts and Jobs Act. The report states the deficit will grow to $804 billion in fiscal year 2018, $242 billion larger than what was projected in 2017. Accounting for most of the difference is a $194 billion reduction in projected revenues, mainly because the law is expected to reduce collection of individual and corporate income taxes. To read the report: https://bit.ly/2GKR1kH


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