Source: The American Prospect
by David Dayen
“All Senate Republicans voted early Monday to pretend that the $3.76 trillion extension of the Trump tax cuts doesn’t cost anything. The vote was perfectly along party lines, with all Democrats voting no. The ‘current policy baseline’ gimmick was not just a rhetorical maneuver so Republicans could claim that a bill that will cost $3.3 trillion over the next decade (not including new interest on the debt) actually saves money. It was fundamental to allowing Republicans to pass the bill under the budget reconciliation rules. … if the Senate used the baseline of current law it has used most commonly (meaning that an extension of a tax cut or spending item actually costs money relative to what the law previously said), then the Senate bill would increase the deficit by more than what the budget resolution accounted for, and that deficits would also increase outside of the ten-year budget window.” (06/30/25)
https://prospect.org/politics/2025-06-30-big-beautiful-bill-tax-cuts-senate/