In conjunction with its analysis of the President’s budget, which will be issued in a few days, CBO has updated the baseline budget projections that it released in January. CBO has not revised its assessment of the economic outlook since January; however, the new baseline projections incorporate the budgetary effects of recently enacted legislation and updated technical assumptions based on new information (such as data about spending and revenues so far this year and program details released in conjunction with the President’s budget).
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In preparing the March 2012 baseline budget projections, CBO and the
staff of the Joint Committee on Taxation (JCT) have updated estimates of
the budgetary effects of the health insurance coverage provisions of
the Affordable Care Act (ACA). That legislation comprises the Patient
Protection and Affordable Care Act (Public Law 111-148) and the health
care provisions of the Health Care and Education Reconciliation Act of
2010 (P.L. 111-152).
