Tags: gop | tax | cuts | budget | trump | republicans

GOP Eyes Budget Maneuver to Allow $450 Billion More in Tax Cuts

GOP Eyes Budget Maneuver to Allow $450 Billion More in Tax Cuts
Michaeldb/Dreamstime

Tuesday, 22 August 2017 01:25 PM EDT

A growing number of key congressional Republicans is considering a controversial maneuver that would allow for about $450 billion of tax cuts without offsets, according to four 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 -- giving tax writers more room for cuts.

Senate budget and tax panels are discussing the move to a “current policy” baseline -- instead of the standard “current law” baseline -- said the people who asked not to be identified because the discussions are private. The chief House tax writer, Kevin Brady, also 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. “This decision would represent a huge break in precedent, would weaken budget discipline to allow Congress to add over half a trillion dollars to the debt,” the nonpartisan Committee For a Responsible Federal Budget said in a letter earlier this month.

© Copyright 2025 Bloomberg News. All rights reserved.


StreetTalk
A growing number of key congressional Republicans is considering a controversial maneuver that would allow for about $450 billion of tax cuts without offsets, according to four congressional aides familiar with the discussions.
gop, tax, cuts, budget, trump, republicans
175
2017-25-22
Tuesday, 22 August 2017 01:25 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved