mancalablog

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irs

m (16 Mar 2017 11:53): Paul I think you were wondering why the Bush tax cuts had a sunset in the first place. Maybe I was wondering this. I can't remember. Anyway, this doesn't explicitly state the reason, but a requirement that it be CBO revenue-neutral seems to be at the root of it.

The plan is rooted in Ryan's obsessive quest to pass a huge tax cut for the rich that will be permanent. That strategy requires a series of difficult steps, which - if carried out correctly at every turn - will ultimately culminate in a massive tax cut that can be scored by the Congressional Budget Office as revenue-neutral after ten years, and thus avoid the arcane budgetary requirement that caused the Bush tax cuts to expire automatically after a decade.