CBO: Tax legislation could trigger $25B in Medicare cuts next year

Congressional Republicans' tax bill, which is forecast to increase the federal deficit by $1.5 trillion over 10 years, could trigger a $25 billion cut to Medicare next year, according to the Congressional Budget Office. "Without enacting subsequent legislation to either offset that deficit increase, waive the recordation of the bill's impact on the scorecard, or otherwise mitigate or eliminate the requirements of the [pay-go] law, OMB would be required to issue a sequestration order within 15 days of the end of the session of Congress to reduce spending in fiscal year 2018 by the resultant total of $136 billion," the CBO wrote. (Retirement Security SmartBrief)