GOP Lawmakers Find $450-M More in Tax Cuts
A growing number of Key congressional Republicans are considering a move that would allow for about $450-B of tax cuts without offsets, according to congressional aides familiar with the discussions.
Under the proposal, the GOP would not account for things like expiring tax breaks when gauging the budgetary impact of tax legislation, thus giving tax writers more room for cuts.
US Senate budget and tax panels are discussing the move to a “current policy” baseline — instead of the standard “current law” baseline.
The chief House tax writer, Kevin Brady, signaled openness to the approach last month, saying it would lead to deeper tax cuts.
The switch would risk a backlash from Democrats and deficit Hawks.