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The plan's sponsors have characterized the plan's proposed increases in Medicare premiums and various fees as "revenues," but this characterization is inconsistent with standard budget accounting. The federal budget treats these items as reductions in outlays, not increases in revenues, and has for almost three decades. The Republican plan's sponsors also say that an additional $200 billion in revenues would result from higher economic growth that the plan might bring about.[2] For very sound reasons, however, standard budget estimates do not use such "dynamic scoring," and we appropriately exclude this amount — which the Joint Committee on Taxation and Congressional Budget Office would not recognize as either an increase in revenues or a reduction in deficits — from our tabulations. [3] (Excluding this amount is also necessary to maintain comparability with the budget figures for other budget proposals.)

Because of its lack of revenue increases, the Republican plan both achieves less deficit reduction and makes much deeper cuts in programs that benefit low- and moderate-income families and individuals than does the Democratic offer...