Republicans Plan To Hide Cost Of Tax Cuts With 1 Weird Trick
3 weeks, 2 days ago

Republicans Plan To Hide Cost Of Tax Cuts With 1 Weird Trick

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LOADING ERROR LOADING WASHINGTON – Republicans have a math problem with the massive proposed tax cut package at the center of President Donald Trump’s legislative agenda. They want to use the “current policy” baseline, which assumes tax cuts — like the deficit-busting ones Republicans passed in 2017, the last time Trump was president — will simply be extended permanently even if that’s not what the law says. The party is facing another problem in the Senate, where current rules do not allow for their preferred accounting tactic that would make the tax cuts appear cost-free. The Senate parliamentarian, the chamber’s nonpartisan rules arbiter, rebuffed their attempt to use it on the 2017 tax cuts, which also passed via reconciliation. “At the end of the day, a tax giveaway to billionaires is still a tax giveaway to billionaires, and there is not one single American who will be fooled by this nonsense that the Republicans are trying to float.” The Urban-Brookings Tax Policy Center, which provides nonpartisan tax policy analysis, said that taxpayers would foot the bill regardless of the semantics of budgetary accounting.

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