Source: The American Prospect
by David Dayen
“As of Thursday evening, the One Big Beautiful Bill (OBBB) is no longer as big, and it never was all that beautiful. But the biggest decision, worth $3.76 trillion, could come as soon as today. The estimate of the Senate Finance Committee’s tax provisions reflect a cost of $441 billion over ten years, according to the Joint Committee on Taxation’s estimate over the weekend. How, you might ask, could the Finance Committee have extended all the Trump tax cuts, expanded some of them, added a bunch of other new tax cuts, made some temporary business tax cuts permanent, and still only cost $441 billion? The trims to clean-energy tax credits and other rollbacks, you would presume, weren’t SO costly that they would nearly wipe out all of the costs! The answer, friends, is a big gimmick known as the current policy baseline.” (06/24/25)
https://prospect.org/politics/2025-06-24-parliamentarian-comes-for-beautiful-bill/