CBO Signals Tax Bill's $1.5 Trillion Deficit Hike Would Trigger Sequestration, $25 Billion Medicare Cut

The Congressional Budget Office says that passing a bill in 2017 that would add $1.5 trillion in deficits over 10 years -- which the House tax overhaul bill is estimated to do -- would require the White House Office of Management and Budget to issue a sequestration order that would lead to a $25 billion cut to Medicare. The House Rules Committee is set to meet on the tax bill Tuesday (Nov. 14) evening, and a floor vote is expected...