How Much Would Every Family in Every State Get if the Megabill’s Tax Cuts Given to the Rich Had Instead Been Evenly Divided?

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Corporate tax breaks are exploding the federal deficit. Guess who profits from that

At this moment, after all, the federal government is shut down in part because Republican majorities in both chambers are fretting about the cost of extending subsidies for Affordable Care Act health plan premiums, which the Congressional Budget Office places at $350 billion over 10 years. Leaving aside that the extension would also increase the number of Americans with health insurance by 3.8 million, the price is dwarfed by the cost of some other initiatives more cherished by the GOP.

One was pinpointed in an analysis the CBO issued on Oct. 8. It’s the reduction in corporate taxes enacted by the Republican Congress in July. The corporate tax cut, the CBO calculates, will increase the federal deficit by $77 billion this year alone.

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