US EditionGOP tax proposals could add $9 trillion to nation’s deficits: Analysis
- Congressional Republicans' tax proposals could add $9 trillion to the nation's deficits, highlighting a risk to the economy, according to an analysis by the Congressional Budget Office.
- The GOP plan includes a $5 trillion tax cut package and strategies to pass it despite challenges from Democrats.
- Senate Minority Leader Chuck Schumer criticized the GOP's approach, stating that they threaten to break Senate rules for tax breaks aimed at billionaires.
- Republican leaders argue they have the authority to score the bill using a 'current policy' baseline without needing a ruling from the Senate parliamentarian.
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Iowa Capital Dispatch+5 Reposted by 5 other sources
GOP budget would add an ‘unprecedented’ $5.8 trillion to the deficit, analysis finds
The U.S. Capitol in Washington, D.C., is pictured on Thursday, March 14, 2024. (Photo by Jennifer Shutt/States Newsroom)WASHINGTON — The nonpartisan Committee for a Responsible Federal Budget released an analysis Friday showing the budget resolution Republicans plan to adopt later this month would allow Congress to add up to $5.8 trillion to the deficit during the next decade. The organization wrote the reconciliation instructions included in th…
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Leaning Left16Leaning Right1Center2Last UpdatedBias Distribution84% Left
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