CBO: American Jobs Act Would Reduce National Deficit $6B Over 10 Yrs
CBO and the staff of the Joint Committee on Taxation (JCT) have estimated the budget impact of S. 1660, the American Jobs Act of 2011, as introduced in the Senate on October 5, 2011. CBO and JCT estimate that, in total, enacting S. 1660 would decrease deficits by about $6 billion over the 2012-2021 period (see enclosed table). That estimated deficit reduction of $6 billion over the coming decade is the net effect of $447 billion in additional spending and tax cuts in titles II through III and $453 billion inadditional tax revenue from the surtax specified in title IV.
Here’s a plan that will add 2 million jobs and 2% growth and reduce the deficit by $6B. Honestly, at this point I wouldn’t care if the GOP put forth a plan that meant 0% taxes on billionaires, repealing health care, overturning Roe V Wade, and invading the entire Middle East if when it was scored it would mean 2 million jobs, 2% growth, and a reduction in the deficit.
This thing is going to be brought up for a vote next week….I would urge everyone to contact their representatives on this issue and urge them to pass it.