As Congress considers extensions of the expiring provisions in the Tax Cuts and Jobs Act (TCJA), lawmakers will need to come up with $3.9 to $4.8 trillion or more of offsets to prevent any extension...
With debt nearing record levels, interest payments surging, and major trust funds approaching insolvency, Congress should avoid worsening our already unsustainable fiscal situation during the Congressional lame duck session. Instead, lawmakers should begin making progress on the debt either by enacting savings or implementing process reforms.
Some lawmakers are making the case that expiring tax cuts should be considered permanent in order to hide the $3.9 trillion increase in deficits that would result from extending the expiring portions...
