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Macroeconomic Feedback Effect on Revenues from the
2025 Budget Reconciliation Bill

Billions of dollars (fiscal year)

tpc

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Source: Joint Committee on Taxation; Congressional Budget Office; TPC macroeconomic models.

Notes: Estimates compare revenues under the law currently in place as of January 1, 2025 to a policy adopts all tax and spending provisions of the 2025 Budget Reconciliation Act, as enacted.