The article discusses how Republican senators are facing significant fiscal challenges in funding Donald Trump's tax cut promises, which could add $10 trillion to the national debt. The Senate Republicans are exploring a controversial tactic to alter the budgeting process, potentially changing the rules to obscure the costs associated with extending tax cuts. This strategy involves shifting from the 'current law' budgeting metric to a 'current policy' one, falsely indicating that tax extensions would incur no costs, thereby threatening established fiscal norms and impacting future budget decisions.
Senate Republicans are considering a significant change to the budgeting process that would allow them to mask the deficit implications of extending Trump's tax cuts.
This approach, if successful, would alter long-standing accounting precedents, affecting both current and future legislation and having major policy implications.
The Republican plan hinges on shifting the scoring metric from the traditional 'current law' to 'current policy,' which would falsely imply that extending tax cuts incurs no cost.
The fiscal challenge is evident, as the Congressional Budget Office predicts that extending the tax cuts could lead to an added $4.6 trillion debt over the next decade.
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