There is no legislative language yet. CBO analyzed a so-called “conceptual paper” called The Chairman’s mark. When the actual legislation is written CBO estimates will change substantially.

CBO has not yet estimated all the “major cash flows” that would affect the budget as a result of implementing the various policies in the conceptual paper. CBO hasn’t even even determined which “cash flows” would be spending and which would be revenue.

Not all Federal spending that would be funded by future appropriations was reflected in these estimates. “For example, implementation costs for operations of the Internal Revenue Service and the Centers for Medicare and Medicaid Services are not included”

From time to time we have managers who come and make similarly flimsy presentations to the Boards of our companies. We have a name for those who do it more than once: “ex-managers.”