The Congressional Budget Office has released its annual report on the long-term budget outlook. Since the federal government has not put in place any long-term budgetary savings since last year’s report, the long-term projection is still bad, and the same difficult decisions still need to be made.
The Supreme Court ruled today the president’s health care law allows premium subsidies for people buying health insurance through exchanges established by the federal government. The petitioners’ claimed that the statute limited subsidies to state-established exchanges. Two federal appeals courts previously split on the legality of the IRS rule that authorized the subsidies in states using the exchange established by the federal government.
In May, the Energy Information Administration issued a report concluding that the Environmental Protection Agency’s proposed rule regulating carbon dioxide emissions from existing power plants would shut down coal-fired power plants, raise electricity prices, and reduce gross domestic product.