GOP Mulls Budgeting Change to Pass Trump Tax Cuts

Republicans are considering a new budgeting approach that would set the costs of extending President Donald Trump’s tax cuts at $0, reported NBC News.

The move would change the accounting process for current and future lawmakers to a different scoring method called the “current baseline” policy, which would mean they are not a new cost and would not need to be offset by cuts elsewhere.

Republicans say if they fail to act, the lower tax rates first approved in 2017 will expire, which would amount to a massive tax hike for many Americans. They believe keeping the tax cuts in place will partly pay for themselves, unleashing economic growth and fresh revenues, though others say those projections are optimistic.

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