From the JCT report.

In the second decade after enactment, the direct tax incentives for increased labor effort that contributed to the projected increase in GDP during the ten-year budget window are reversed, with the expiration of reduced individual income tax rates and the continuing effect of indexing tax brackets by chained CPI of moving people to higher tax brackets more quickly than they would be moved under present law. The combination of increased revenues due to chained CPI and continuing savings due to reducing individual shared responsibility payment amounts to zero slow the growth of the deficit in the second and third decades. However, the continuation of chained CPI provision coupled with the sunset of most other individual provisions result in an increased marginal tax rate on labor, dampening labor supply incentives, and reducing the increase in GDP relative to projected baseline levels. The permanent reduction in the corporate income tax rate continues to provide an incentive for increased investment and GDP in the second decade, but the increase in debt created during the budget period is expected to continue to exert some upward pressure on interest rates. Combined with reduced labor supply due to increasing tax rates on labor, the upward pressure on interest rates is projected to partially or wholly offset investments incentives by the end of the third decade