Economic policy experts across the political spectrum are debating Republican lawmakers’ plan for a “current-policy baseline” to extend Tax Cuts and Jobs Act (TCJA) provisions. The baseline assumes that current laws will remain in effect and that tax cuts will have no budgetary impact. Rep. Mike Crapo (R-ID) claims, “If you’re not changing the tax code, you’re simply extending current policy, you’re not increasing the deficit.” But the Committee for a Responsible Federal Budget says that TCJA extensions will add $3.4 trillion to $4.6 trillion of deficit increases through 2034. Meanwhile, the U.S. Chamber of Commerce calls it “imperative that Congress adopt a current-policy baseline.”
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