CBO: Repealing Obamacare would boost economic growth

Joseph Lawler
The Washington Examiner
6/19/2015

Repealing Obamacare would boost economic growth by an average of 0.7 percent after several years, according to an analysis by the Congressional Budget Office released on Friday.

“CBO has determined what many in Congress have known all along,” Republican Senate Budget Committee Chairman Mike Enzi of Wyoming said in a statement. “This law acts as an anchor on our economy by dragging down employment and reducing labor force participation.

Repeal would make the economy grow faster in the budget office’s projections mostly because of the removal provisions of the law that reduce the supply of labor…

…That effect is mostly driven by the fact that with Obamacare in place, some people face incentives to work less because they might lose subsidies or credits if their earnings rise. Removing those incentives leads to more hours worked and more jobs.

A smaller factor is that repealing some of Obamacare’s taxes would cause businesses to invest and grow more…

The complete article is at The Washington Examiner.