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Congressional Record - Tax Cuts And Jobs Act (Part 5) | TaxConnections
Mr. LARSON of Connecticut. Lastly, Mr. Speaker, I include in the Record a letter from the Congressional Budget Office, which details out the other shoe to fall in this legislation. Congressional Budget Office, U.S. Congress, Washington, DC, November 13, 2017 Hon. Steny H. Hoyer,Democratic Whip, House of Representatives, Washington, D.C. Dear Congressman: This letter responds to your request for information about the effects of legislation that would raise deficits by an estimated $1.5 trillion over the 2018-2027 period, specifically with respect to a sequestration--or cancellation of budgetary resources--in accordance with the Statutory Pay-As-You-Go Act of 2010 (PAYGO; Public Law 111-139).The PAYGO law requires that new legislation enacted during a term of Congress does not collectively increase estimated deficits.