Ni5: Perspectives

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If only they used their power for good, instead of evil

Date: 2017-Dec-29 Author: Others

The intent of Congress' budget reconciliation process is to pass budget bills that are fiscally responsible. One requirement is that any bill passed using this process does not result in increased deficits after the bill is set to expire (usually in 10 years).

But the tax law passed in 2017 by Republicans included a 40 percent reduction of the highest corporate tax rate - resulting in projected $1.5 trillion deficit in 10 years.

To balance that out, Republicans added provisions to increase taxes on individuals after seven years and reduce spending on Obamacare - by allowing people who normally would receive a government subsidy to decline to purchase insurance.

These are not responsible budget provisions - but rather just tricks to allow the corporate tax cut to be permanent. And they provide no benefit to the overwhelming majority of Americans - the people whose interests these Republicans supposedly were elected to represent.

This editorial by Jonathan Chait explains their strategy, and how it can be exploited for results that help the overwhelming majority of Americans rather than harm them.