Republicans order key panel to score extension of Trump tax cuts as budget neutral

(The Hill) Senate Republicans have directed the Joint Committee on Taxation (JCT) to score the cost of extending the 2017 Trump tax cuts as a continuation of current policy that would not add significantly to federal deficits, which would allow them to make those tax rates permanent.

The joint panel on taxation, which projects the deficit impact of all tax bills, scored the extension of 26 provisions of the 2017 Tax Cuts and Jobs Act as a continuation of “current policy” and therefore budget neutral, which dramatically lowers the projected cost of President Trump’s megabill.

In a score released Saturday, the JCT projects tax-related provisions of the Republican bill as adding $441.5 billion to the deficit over the next decade, instead of the $4 trillion that Democrats say would be the projected cost of the tax provisions if they were scored on a “current law” baseline.

Much of the 2017 tax law, including a reduction in individual income tax rates, is due to expire at the end of 2025.

https://finance.yahoo.com/news/republicans-order-key-panel-score-200436710.html