Static Scoring News Today

>> john: welcome back as "america reports" rolls into a second hour for this tuesday. im john roberts. good to spend another hour with you. >> aishah: got it right. aishah hasnie in for sandra smith. betsy devos says democrats have simply not learned their lesson since governor youngkin pulled off an upset in virginia. ask her about that. also, the huge price tag on president bidens student loan handout. >> john: begin with breaking news of the major hurricane taking aim at the sunshin...

If the CBO dynamically scores spending bills, it should update its models to account for the negative multiplier.

217-217 would be a tie. democrats with only lose three votes. golden will vote no. they lose one there. they might lose one there. nancy pelosi usually passes the big bills with tight margins here. as to the cbo score question that you raised, that didnt seem to have any negative impact on some of the moderate democrats who said they would vote no. if you had a coalition of 5 or 10 who wouldnt vote they wouldnt have put the bill on the floor. it adds 367 billion dollars to the deficit according ...

Chart 2: Wealthy Taxpayers Rely Less on Wage and Salary Income Than Any Other Income Class Chart 3: Changes In Tax Rates Have Little Effect on Revenues Chart 4: Rich Pay More Following 1920s Tax Cuts Chart 5: Rich Paid More Under 1960s Kennedy Tax Cuts Chart 6: Reagan Tax Cuts Generated 31% More Tax Revenue From the Wealthy Chart 7: Higher Tax Rates, Lower Revenue Introduction One of the most important fiscal policy debates developing in this election involves the question of whether changes in...

You accept static scoring, would be the 1.5 trillion. i actually do not think that we will have a deficit or debt created out of the tax bill over a ten-year period of time. going into 2019 more companies are going to be hiring employees. we have the tightest labor market in a couple of decades and youre seeing wages rise. he did in pauls defense it in 2017 go to the senate majority leader and the president and say, i want to do entitlement reforms and there was significant push back not just fr...

Administration in 1984 when we said morning in the america. democrats are going to say what you have is a high, its not going to last. that argument will be played out over six months. im pretty optimistic that the boom will continue throughout 2018. >> business sentiment small and large is up. cbo projecting that deficits are going to surpass 1 trillion by 2020. >> never believe the cbo, very important. never believe them. theyre always wrong, especially with regard to tax cuts. >> never believ...

In the end, trump and the gop promised the world, but they continue to be disingenuous about what theyre actually delivering to the american people. >> so that was pretty good. that was pretty good. the one -- your failing was in doing that -- >> that you didnt do it? >> well, if i had done it, do you think i would have relied on the cbo for numbers? they run numbers for congress. >> you can argue that you dont like the cbo which actually kudlow, the national economic adviser south president did...

Stand says will increase the debt by $1.4 trillion over the next 10 years. we already have a $20 trillion debt and another 1.4 trillion is a lot of money. >> im glad you bring it up. the cbo is required to look at static scoring only. they cant look at improvement in the economy based on having more money to invest. they cant look at businesses actually am can be back from overseas. they left the united states and moved overseas in the last 10 years. you have to stop the hemorrhage and when you ...

Mentioned, both of those are basing in their scoring what is called a static scoring and if you cut taxes, nothing happens to the economy and no one believes that. its a clean simple straight forward way to do it. if you cut taxes then nothing happens. everyone is trying to figure out what ek am nomically does happen. they have a well educated guess and our estimates are a .4% increase in the gdp. its a conservative estimate. my statement is if that doesnt happen and you dont get a .4%, how do w...

Years. i know you believe in some form of dynamic scoring. i get that. why do you have some tolerance of expanding the debt now versus over the last seven years? >> so let me be very clear, chuck. if we pass this tax reform package in something like the current form we will reduce the size of the deficits and have smaller debt than we otherwise would. this bill contemplates -- compared to the current path that were on, $1 trillion in forgone revenue without taking into account the greater econom...