Republicans on Capitol Hill are debating how to extend tax cuts from 2017 to prevent a $4 trillion tax hike and defend their fiscal legacy.
Senator Michael D. Crapo argues that extending current tax cuts doesn't raise or lower taxes, and thus shouldn’t be considered a deficit increase.
The Congressional Budget Office warns that allowing tax cuts to expire would reduce revenue by roughly $4 trillion, prompting concerns among Republicans.
The argument that continuing existing tax cuts costs nothing is gaining traction among some Republicans, seeking to avoid the perception of tax hikes.
Collection
[
|
...
]