CBO and the staff of the Joint Committee on Taxation determined that provisions in the Conference Agreement would increase deficits over the 2018-2027 period by $1.5 trillion (not including any macroeconomic effects). By CBO’s estimate, additional debt service would boost the 10-year increase in deficits to $1.8 trillion. As a result of those higher deficits, debt held by the public would increase from the 91.2 percent of gross domestic product in CBO’s June 2017 baseline to 97.5 percent.