The Corner

Re: Re: A Wonk Question

Following up on my response to Andy, several people have pointed out that while I am right on the CBO score of the spending caps in round 1 of the Boehner plan, we need to watch for the revenue assumptions in round 2, when the commission created in the bill is directed to come up with $1.8 trillion in deficit reductions.

If the commission comes up with a plan that includes revenue, and it is scored by the CBO, then it would likely use the same current law baseline used by the Gang of Six to claim a false $1.5 trillion tax cut — because it would assume that the Bush tax cuts and various tax “extenders” expire, and that millions of middle class families pay the AMT who are normally exempted thanks to the AMT patch. So be wary of claims that round two is revenue neutral or includes at net tax cut.

The good news is that that this false accounting was exposed when the Gang of Six released its plan, so now we know what to look for when the commission issues its report next year.

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