(THE HILL) The new healthcare law will slow economic growth over the next decade, costing the nation about 2.5 million jobs and contributing to a $1 trillion increase in projected deficits, the Congressional Budget Office said in a report released Tuesday.

The non-partisan agency’s report found that the healthcare law’s negative effects on the economy will be “substantially larger” than what it had previously anticipated.

The CBO is now estimating that the law will reduce labor force compensation by 1 percent from 2017 to 2024, twice the reduction it previously had projected.

 

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