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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRepublicans stare down massive deficits to extend Trump tax cuts
Caught between the debt and their tax base, Republicans are considering some novel ways to account for the cost of their legislative agenda as disagreements over budget cuts look set to hamstring early moves on their tax bill.
Known as working from the current policy baseline, the nonstandard accounting method would let Republicans sweep nearly $5 trillion of debt under the rug.
Using that baseline would keep the cost of extending expiring provisions of the 2017 Tax Cuts and Jobs Act out of the bills budgetary score, but include the potential benefits of renewing those provisions. Doing so would likely produce a much smaller number by which the tax legislation would add to the deficit.
Thats a $5 trillion question, PwC tax expert and longtime Capitol Hill staffer Rohit Kumar told reporters in January, noting the policy baseline method could be used in either a one-bill or two-bill scenario for the Republican agenda.
https://www.yahoo.com/news/republicans-stare-down-massive-deficits-110000424.html
Republican math
tanyev
(49,295 posts)dalton99a
(94,121 posts)Klarkashton
(5,293 posts)Lexicon until right now.
keep_left
(3,210 posts)...concessions they had to make in the '60s and '70s.
Carlin had it right. (See 9:12 to the end).