Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
GOP Pulls Dirty Trick To Make Tax Cuts Even Easier To Pass
Posted
January 10, 2015
Views
42,045
Likes
846
Comments
203
Engagement
2.49%
January 10, 2015
42,045
846
203
2.49%
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6:55Now Playing"On Tuesday, the House will vote on whether the the Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT) will be required to use “dynamic scoring” when they quantify the impact of a potential bill. What sounds like a small technicality could have a huge impact on lawmaking and the country’s finances.
What is dynamic scoring?
When a bill is proposed, the non-partisan CBO often scores it, or offers its best estimate of how much it will cost and how it will impact the economy. In scoring tax legislation, the CBO and JCT look at a range of economic models that could predict the impact of any changes. But they assume that the size of the economy and workforce will stay fixed at their current levels.
Dynamic scoring would require that they include in their estimates any changes in the economy and the workforce resulting from tax legislation in the future. This would almost certainly mean including the assumption that tax cuts increase economic output, bringing in more government revenue in the long term that would help make up for the money lost to the cuts."* The Young Turks hosts Cenk Uygur and John Iadarola break it down.
*Read more here:
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