WestVirginiaRebel Posted December 16, 2015 Share Posted December 16, 2015 Washington Times: Congressional leaders agreed to a budget-busting set of tax cuts late Tuesday as part of a year-end, clear-the-decks deal that marks a major reversal from the last four years’ focus on deficits and streamlining the tax code. While the total cost of the package had not been publicly estimated by the Congressional Budget Office, it was expected to total in the hundreds of billions of dollars over the next decade — undoing in one swoop many of the deficit gains the GOP had won under then-Speaker John A. Boehner. Instead, the 233-page document moves away from deficit-cutting and embraces dozens of special tax breaks that presidential candidates in both parties had said they wanted to eliminate. The deal explicitly exempts itself from budget rules that normally require all new spending or tax cuts to be offset by tax increases or spending cuts elsewhere in the budget. The bill will be voted on by both the House and Senate later this week, as Congress tried to wrap up business for 2015. ________ Ryan's lost hope? Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now