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A delay in GOP's tax plans could push up costs by hundreds of billions
1 Day Ago
A delay in GOP’s tax plans could push up costs by hundreds of billions
The Treasury Department estimate comes as the House and Senate move on separate tracks for the legislation.
BRIAN FALER
01/10/2025, 4:21PM ET UPDATED: 01/10/2025, 6:20PM ET
The price of extending Republicans’ tax cuts will surge by hundreds of billions of dollars if lawmakers dawdle, new government figures show.
The Treasury Department released numbers Friday showing that rolling over all of the soon-to-lapse provisions, as well as undoing other reductions in business benefits that were triggered by the 2017 law, would cost $5.5 trillion — substantially more than the $4 trillion the Congressional Budget Office has projected.
{snip}
A delay in GOP’s tax plans could push up costs by hundreds of billions
The Treasury Department estimate comes as the House and Senate move on separate tracks for the legislation.
BRIAN FALER
01/10/2025, 4:21PM ET UPDATED: 01/10/2025, 6:20PM ET
The price of extending Republicans’ tax cuts will surge by hundreds of billions of dollars if lawmakers dawdle, new government figures show.
The Treasury Department released numbers Friday showing that rolling over all of the soon-to-lapse provisions, as well as undoing other reductions in business benefits that were triggered by the 2017 law, would cost $5.5 trillion — substantially more than the $4 trillion the Congressional Budget Office has projected.
{snip}