Showing posts with label Phillip Swagel. Show all posts
Showing posts with label Phillip Swagel. Show all posts

Monday, June 30, 2025

Phony Republican current policy baseline says Trump tax cuts will cost $0 going forward, Congressional Budget Office says $3.5 trillion

 Graham claims sole authority to decide if GOP megabill complies with budget laws

... Sen. Jeff Merkley (D-Ore.), the ranking member of the Budget Committee, immediately appealed the ruling of the chair.

He pointed to a letter he received from Congressional Budget Office Director Phillip Swagel asserting that the Finance portion of the bill would increase federal deficit by $3.5 trillion between 2025 and 2034 and increase deficits beyond the 10-year budget window, which ends in 2034.

“The ability of the chair to create a phony baseline has never been used in reconciliation, not ever,” Merkley argued.

“This breaks a 51-year tradition of the Senate for honest numbers,” he declared.

Merkley’s appeal of the chair’s ruling empowering Graham failed by a party-line vote. Senators rejected it by a vote of 53 to 47. ...

Sunday, June 29, 2025

Republicans are doing an end-run around the Senate parliamentarian to make novel use of the current policy baseline instead of current law, asserting a Democrat precedent from 2022

 Senate GOP declines to meet with parliamentarian on whether Trump tax cuts add to deficit

... Republicans, however, say that the parliamentarian doesn’t have a role in judging how much the tax portion of the One Big Beautiful Bill Act would add to the deficit within the bill’s 10-year budget window or whether it would add to deficits beyond 2034.

They argue that Budget Committee Chair Lindsey Graham (R-S.C.) has authority under Section 312 of the Congressional Budget Act “to determine baseline numbers of spending and revenue.”

Ryan Wrasse, a spokesperson for Senate Majority Leader John Thune (R-S.D.), pointed to a Budget Committee report published when Democrats were in the majority in 2022 stating that the Budget Committee, through its chair, makes the call on questions of numbers, not the parliamentarian.

Graham received a letter from Swagel [CBO Director] on Saturday stating that the Finance Committee’s tax text does not exceed its reconciliation instructions or add to deficits after 2034 when scored on the “current-policy” baseline that Graham wants the Joint Committee on Taxation (JCT) and CBO to use.

Taylor Reidy, a spokesperson for the Budget panel, asserted on the social platform X that “there is no need to have a parliamentarian meeting with respect to current policy baseline because Section 312 of the Congressional Budget Act gives Sen. Graham — as Chairman of the Budget Committee — the authority to set the baseline.” ...

All you really need to know is that whatever these yokels end up passing, the country will be $50-$60 trillion in debt ten years from now because they spend too much and tax too little.