Senate braces for high-stakes ruling that will decide the fate of Trump's tax cuts
(NBC News) Senators are expecting to receive as early as next week a consequential decision from their in-house referee that will shape whether Republicans can make President Donald Trump’s expiring tax cuts permanent.
Senate budget rules require Republicans to pay for the cost of tax cuts in order to permanently extend them. The Congressional Budget Office, the official scorekeeper on Capitol Hill, has established the cost of extending them is $4.6 trillion over a decade when they expire at the end of 2025.
That’s under the “current law” baseline the Senate has used for decades. But if Republicans are allowed to use a different method, the “current policy” baseline, to set the cost at $0, they can extend the tax cuts, which were enacted in 2017, without paying for them.
https://www.yahoo.com/news/senate-braces-high-stakes-ruling-203152880.html?.tsrc=daily_mail&segment_id=DY_VTO_CORE&ncid=crm_19908-1475736-20250328-0-&bt_user_id=s7SRqwnO%2FzDmtwIvUQZ7TRZ%2FOylg7bC87f5X42F9dmBhESDrKjq9Lu5%2F5fap5b7G&bt_ts=1743165132743